We're pleased to announce an update is coming to the community boards.
Saturday, September 24th: We are migrating the boards to a new platform. The site is currently in read-only mode and we will bring it back online as soon as the migration is complete.
We are in the process of migrating the boards to our new platform! This board has already been migrated but you can click below to continue the discussion on the new site.
"After January 31, 1999, the rule was going to be, whoever consolidated would get the average interest of all the loans they were consolidating, rounded to the next highest one-eighth. So if you had a bunch of loans averaging 7.19%, your rate would be 7.25%----fixed."- W505a.Someone in an earlier post mentioned that this was a "weighted average". Is this correct? And precisely what is a "weighted average". I'm thinking that it means that a $10,000 loan will count twice as much as a $5,000 loan in an equation. Also, any references would be helpful. Thank you:)
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