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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: The Power Of Compounding Date:  2/11/2013  8:35 AM
Author:  xtn Number:  306794 of 312149

I'm sorry, I just don't remember this when we carried a balance.

Well, perhaps they have changed the way they word the disclosure, but it has always worked this way.

Your principal and interest in one period BECOMES your principal balance for the next period, on which new interest will be calculated.

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