ACTUARIAL METHOD Definition

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ACTUARIAL METHOD means the method of allocating payments made on a debt between the amount financed and the finance or other charges where the payment is applied first to the accumulated finance or other charges and any remainder is subtracted from, or any deficiency is added to the unpaid balance of the amount financed.

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TAN is Tax Anticipation Note.

ESCHEAT is the reversion of property to the state (government) in the absence of legal heirs or claimants.

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