accrue on the remaining balance

English translation: Interest at a rate of 7% (seven percent) will be added to the remaining balance

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03:47 Jun 13, 2018
English to English translations [Non-PRO]
Bus/Financial - Finance (general)
English term or phrase: accrue on the remaining balance
"Accrue on the remaining balance" means accruing with the calculation based on the remaining balance or accruing to the remaining balance?

Help, please!

Context:
At any time while not in default under this Agreement, the Borrower may pay the outstanding balance then owing under this Agreement to the Lender without further bonus or penalty.

Interest at a rate of 7% (seven percent) will accrue on the remaining balance the first day after the...
Nam Vo
Vietnam
Local time: 13:28
English translation:Interest at a rate of 7% (seven percent) will be added to the remaining balance
Explanation:
starting from the first day after a payment is made, interest at a rate of 7% (seven percent) will be added to the remaining balance

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Note added at 2 hrs (2018-06-13 05:59:27 GMT)
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implied:

the interest will be calculated as 7% of the remaining balance [NOT 7 % of the initial loan, nor of any other amount], and will be added to [=will accrue to] the remaining balance
Selected response from:

Daryo
United Kingdom
Local time: 07:28
Grading comment
Thank you very much for your answer. Very helpful!!!
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +3Interest at a rate of 7% (seven percent) will be added to the remaining balance
Daryo


  

Answers


2 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +3
Interest at a rate of 7% (seven percent) will accrue on the remaining balance
Interest at a rate of 7% (seven percent) will be added to the remaining balance


Explanation:
starting from the first day after a payment is made, interest at a rate of 7% (seven percent) will be added to the remaining balance

--------------------------------------------------
Note added at 2 hrs (2018-06-13 05:59:27 GMT)
--------------------------------------------------

implied:

the interest will be calculated as 7% of the remaining balance [NOT 7 % of the initial loan, nor of any other amount], and will be added to [=will accrue to] the remaining balance

Daryo
United Kingdom
Local time: 07:28
Specializes in field
Native speaker of: Native in SerbianSerbian, Native in FrenchFrench
PRO pts in category: 7
Grading comment
Thank you very much for your answer. Very helpful!!!

Peer comments on this answer (and responses from the answerer)
agree  Sarah Lewis-Morgan
3 hrs
  -> Thanks!

agree  AllegroTrans
4 hrs
  -> Thanks!

agree  Tina Vonhof
8 hrs
  -> Thanks!
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