Hey /b/iz I'm stupid >Took loan for $2,000 >Paid

>>1626939
hard to say without knowing the interest rate and how much you paid.

I am going to take a guess in that you pay 100 a month, then yes, that would be your current interest generated so far.

>>1626941


>Interest generated so far

Does that mean it's going to get bigger?

It's under $100 and I told them two years.

>>1626947
breh did you not get the intrest rate and minimum ayement info???

>>1626947
depending on the term of the loan, yes, it will get bigger.

most common loans accrue interest payments monthly

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>>1626959


brahs i don't know where it is, I think it was 2.4% or something.

>>1626961
So how much do you think I'll be paying when it's over?

came here for the sauce

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>>1626968
2.4% would only make it like 4-5 dollars a month in interest which doesn't make sense since you said 49 dollars.

Look carefully on your payment or bill data to see if it is a fee. Otherwise I took into account 2 payments occured to reverse calculate a probable interest rate.

>>1626968
1. You're a fucking retard to take out a loan and not know what the interest was.
2. I assume your monthly payments are $100? If so the interest seems to be about $25 per month.
3. So over about a 24 months payback period you'll pay roughly $400-600 in interest (on top of paying off the original $2000)

>>1626939
just ask them about what happened, most people are financially illiterate they get these questions all the time

>>1626983
There is one other possibility in that they chunked the interest for the 2 years all into the cost of the loan, if they didn't want to add the interest monthly. That would mean no more interest will be added in unless your late on a payment or stop paying your loan. He will need to just see if more interest accrues if he doesn't want to check his bill statement.

>>1626986
Hmmmm well considering the OP didnt even know what the loan interest rate was, what do you think the chance of a 2 year loan of $2000 would only have $49 of interest? (Protip: not good)

>>1626939

Can we please keep this board SFW?

>>1626986
Makes sense. $49 would be 2.45% of $2000, so maybe he gets interest added annually.

If OP would just read the terms and conditions of the contract he signed we wouldn't be sitting here guessing though.

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i-i sorry guis im rreeeeetaaaarddeedddd

>>1627011
What are you fuckin gay?

>>1627011

>muh SFW

Do your fucking job. If you dont give a shit, a nice booty is just a plus.