How Amortization Front-Loads the Interest on a Loan
Nothing is front-loaded on purpose. Interest is charged on the balance, the balance starts large, and a level payment does the rest. Here is the sum, month by month.
statements
Cash Advances: Why There Is No Grace Period
The grace period disclosure in Regulation Z is written about purchases. A cash advance is a separate balance with its own rate and its own fee, and the rules say where to find both.
Average Daily Balance: The Number Your Interest Is Really Based On
You paid it down mid-month and the charge barely moved. Here is the arithmetic that explains why, and the two rules that require your issuer to tell you which method it uses.
The Minimum Payment Trap: What the Math Does to the Timeline
Your statement is required to print the answer for your own account. Regulation Z puts a minimum payment warning and a repayment estimate on the page. Here is how to read it.
How Interest Is Actually Calculated: A Plain Arithmetic Guide
Rate, balance and time are the three inputs, and the balance is the one nobody explains. Here is the arithmetic, and the rule that puts every input on your own statement.