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Earn +20 ptsQ: What is meant by favourable balance of payment?
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Are late fees removed from the balance when paid with a regular payment?
Yes, for most loans. For most loans, the late fee is added to the minimum payment required (and the balance at the time of incurring the late fee) and will be deducted from the balance once the payment is received.
What is the difference between a regular payment and a principal payment?
A regular payment is a set amount of money paid at regular intervals, typically to cover interest and a portion of the principal balance. A principal payment is a payment made specifically to reduce the outstanding balance of the loan or debt.
What is meant by Payment by documents through bank?
Payment by documents through your bank is how you have made your payment. The document could be your check.
What are the different methods of controlling balance of payment disequilibrium?
which of the following methods is effective in controlling balance of payments ?
Why is your minimum payment equal to the total balance due?
Because you owe them one minimum payment at the time of the invoice.
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