actuarial method
Defined in 1 dictionary — U.S. Code
United States Code
12 U.S.C. § 1735F — in this section
the term “actuarial method” means the method of allocating payments made on a debt between the outstanding balance of the obligation and the precomputed finance charge pursuant to which a payment is applied first to the accrued precomputed finance charge and any remainder is subtracted from, or any deficiency is added to, the outstanding balance of the obligation;