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The costs of abusive loans compound over time because loans with harmful features lead more often to defaults, bankruptcies or the loss of a critical asset such as a car or home.
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He continued to borrow to pay off earlier loans, compounding his problems.
The company points out its maximum loan term is 30 days – extended to 60 for late payers – and it charges 1% interest every day of a loan, not "compound interest" in which interest is charged on interest.
In the short term, however, the conditions attached to these loans have compounded Greece's woes.
A number of calques (loan translation compounds) are shared by the languages of Mesoamerica.
The woman's interest would be about 31% higher than the man's, as a result of the longer time to take off the loan and compounding interest.
Problems with the mishandling of the loans have been compounded by the Mortgage Electronic Registration System, an electronic lien-registry service that was set up by the banks.
An interest rate is typically given as an annual rate, while the interest on a mortgage loan is typically compounded monthly.
A mortgage interest rate is typically given as the annual rate, whereas the interest on a mortgage loan is typically compounded monthly.
Whether or not you've been to university yourself, the new student finance regime for 2012/13, with its eye-watering course fees and complex matrix of loans, grants and bursaries, only compounds that anxiety.
To compound matters, the loan sharks show up at the company to harass Ong.
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