Created by Davide Borchia
Last updated: Jun 28, 2022
nominal interest rate
Origination fee repayment
from the loan amount
You receive a $9,200 loan after deducting the origination fee of $800.
Your periodic payment is $169.1, and from this, $8.05 covers the additional fees rolled into the loan.
The total interest payment is $1,675.33, and from this, $1,595.55 charged on the loan amount and $79.78 is paid after the additional fees have been rolled into the loan.
The total additional fees with interest charged on them are $1,579.78.
The total payment you need to make is $12,375.33; thus, the total finance charge (total interest plus additional fees) is $3,175.33.
The APR is 10.31%, and the effective APR that accounts for the compounding frequency as well is 10.81%.
Total payment percentage breakdown
chart and table
Show balances on
|Year||Opening balance||Yearly principal||Yearly interest||Closing balance||Total paid|