Total interest payments
Definition
The sum of all interest payments to date or over the life of the loan. This is an incomplete measure of the cost of credit to the borrower because it does not include up-front cash payments, and it is not adjusted for the time value of money. See Effective rate.
Related Terms Other terms related to 'Total interest payments' starting with the letter 'T' Title insurance, Total expense ratio, Term, Tangible Net Benefit, Teaser rate
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