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loan interest?

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ok sorry upfront if this is a dumb thread but I have know Idea how the interest on my bike works. every month I make a payment and the amount thats taken as interest every month is different. Ive waited till the end of my payment period and the interest was $50.00(with $100.00 payment).

And Ive paid on the first day of my payment period and my interest was $5.00(with the minimum 70.00 payment). I just made my payment for this month today (which is 3 days after the start of my payment period) for 100.00 and the interest was $30.00.

my rate is 15%

basically Im asking how can I figure out what their gonna take in interest every month.

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whoaaaa thats a high intrest rate!!!!!!!!!

yeah I know thats why I had planned on making like 300 or 400 dollar payments but work is really slow so I'm forced to make crappy low payments.

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Yep that link shows how it works. Welcome to reality. What you can do is ensure you make your minimum payments on time and pay off the loan. Then next time you apply for a loan your interest rate will be lower. Again pay that loan off properly and you will be on the road for great interest rates...which means you pay less when you borrow.

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