Examples of Loan Interest

EXAMPLES OF LOAN INTEREST

This chart shows how much interest someone would pay over a 60 month term for a $20,000.00 loan.

Interest Rate                          Payment                                Finance Charge

 8.0%  $405.59  $4,334.34
 10.0%  $425.01  $5,500.04
 15.0%  $475.90  $8,553.84