Can Someone help me figure out how much I'm paying $$ in interest if the interest rate is 7.900%?
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I'm really bad at math. Lol my balance is $3,206.25 min payment is $50. I want to make sure I'm sending enough to cover the interest but more the principal. Can someone help me?
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Answer:
Minimum payments are designed to keep you in debt so if you can afford to at least double the minimum payment
cuban cutie at Yahoo! Answers Visit the source
Other answers
That will take you almost 7 years to pay off and you will pay close to $1000 in interest. This is assuming that the loan is simple interest.
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