Installment loans with low interest rate, interested? Dont be fool, you are falling into a trap!
Loaner/Bank always advertise that they can provide a loan with low interest rate, it seems very true - they do calculate interest of each period using the nominal rate.
However, its a trap - they use same loan amount to calculate for all periods, i.e. you pay interest for the part of your load youve repaid.
With this tool, you can calculate the actual rate you pay for your loan. It will prove that you pay much more than the annual rate promised by loaner/bank!
Should you have any question/issue, please contact [email protected], thanks!