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Navigation: Loan Screens > Account Information Screen Group > Precomputed Loans Screen > Loan Information field group >
Term
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Term |
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Entry: System, numeric
F/M: No
Mnemonic: LNTERM
Screen: Loans > Account Information > Precomputed Loans screen
This field contains the term of the loan in months. It is used in calculating Rebated Interest on loans with precomputed interest (payment method 3).
WARNING: This field is used to calculate payments and should reflect the number of calendar months over which the loan is being amortized. This is not always the same number as the maturity date of a loan.