Hello,

Can someone please explain this Amazon Lending of 6k at 6 month payments?

Loan Summary

Interest (15.90% annual rate) $281.34

Net Loan Proceeds $6,000

Total of Payments $6,281.34

Monthly Payment $1,046.89

Total Cost (4.69%) $281.34

So why is it a 15.9% annual rate but a total cost of 4.69% at $281.34?

Is $281.34 the final fee in total for this? Any advice is much appreciated.

Also, does this have any negative effect on my account?

Thanks!