actuarial method.A means of determining the amount of interest on a loan by using the loan’s

annual  percentage  rate  to  separately  calculate  the  finance  charge  for  each  payment  period,  after

crediting  each  payment,  which  is  credited  first to  interest and  then  to  principal.  [Cases:  Interest

59. C.J.S. Interest and Usury; Consumer Credit § 74.] [Blacks Law 8th]