Payment (Car Payment)

Auto loan debtors must pay their lenders monthly instalments in order to complete their loan repayments.

A portion of the interest and principal from the loan is included in this payment. Each month, interest is computed based on the current balance of the principal. The interest component of the payment is higher at the start of the loan term than at the end. A “front-loaded” view of interest results as a result of this.

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