Origination date
from class: Math for Non-Math Majors Definition The origination date is the starting date when a loan agreement is officially executed. It marks the beginning of the loan term and the accrual of interest.
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Predict what's on your test 5 Must Know Facts For Your Next Test The origination date determines when interest calculations begin. It influences the schedule for repayments and maturity date. The time span between the origination date and payment dates affects total interest paid. Loans often have fees associated with their origination, impacting overall cost. Understanding the origination date is crucial for calculating simple interest correctly. Review Questions What role does the origination date play in calculating simple interest? How does the origination date affect a loan's repayment schedule? Why is it important to know the origination date when managing personal finances?
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