Showing posts with label pretermination rate. Show all posts
Showing posts with label pretermination rate. Show all posts
Tuesday, February 26, 2013
Pretermination rate
Ad Majorem.....Wealth Builders
Somebody asked me to sign the interest payment for a matured PN. The check was for PHP 9,000. The note matured on December 7, 2012. However, the owner of the note had a prepayment of PHP 50,000. So as per the PN, there was a pretermination and that calls for just 50% of interest payment. And the interest payment just have to be PHP4,500.00, not PHP 9,000.
Somebody asked me to sign the interest payment for a matured PN. The check was for PHP 9,000. The note matured on December 7, 2012. However, the owner of the note had a prepayment of PHP 50,000. So as per the PN, there was a pretermination and that calls for just 50% of interest payment. And the interest payment just have to be PHP4,500.00, not PHP 9,000.
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