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Has anyone here ever encountered a situation of a rate fixed sum secured loan governed by the CCA'74, where by the interest rate is variable but where the actual monthly amount then due no longer appears to be correct for the given amount borrowed?
The situation I am in is is exactly this where each time the interest rate has changed over the years (up or down) the discrepency gets larger :tinysmile_hmm_t2:
I have tried various loan repayment calculators, loan ammortisation calculators and even MS-Excel's financial functions and they all disagree with the lender, with exception of the very first payments which were spot on to the penny.
The situation I am in is is exactly this where each time the interest rate has changed over the years (up or down) the discrepency gets larger :tinysmile_hmm_t2:
I have tried various loan repayment calculators, loan ammortisation calculators and even MS-Excel's financial functions and they all disagree with the lender, with exception of the very first payments which were spot on to the penny.
