Posted on: 23rd Jan, 2011 11:12 pm
If you have a Intrest of 15.6 Apr on 24 mths on a 9000
Dollar loan.and you are late on some payments does more of your money go to the intrest than princ.and would you end up paying more intrest or does it cut off once the total intrest is paid.
Dollar loan.and you are late on some payments does more of your money go to the intrest than princ.and would you end up paying more intrest or does it cut off once the total intrest is paid.
I don't think so. The money will be equally divided between the interest payments as well as your principal balance. However, if you wish, you can even pay toward the interest only. But the lender has to agree to this request of yours.