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When a Payment Is Applied to a Bill with Interest, What Percentage of the Payment Will Go Towards the Interest?

Question:

  • How much percentage of the interest is paid on a Bill?
  • How much interest will be paid against, on a Bill payment?

Environment:

  • Clio Manage

Additional Information:

  • n/a

Answer:

When a payment is made on a Bill that also has interest, the payment will first be applied to the original bill amount, and then to the interest.
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