Amazon Lending % Question



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?



Im not sure how they work the numbers but I am near the end of paying back a amazon loan and it worked very well for me


A loan from Amazon lending will not have any effect on your account unless you do not pay as promised.
> Thanks!

The 15.9% is an annual percentage. (the amount that you would be charged if no principal amount were payed for a period of 1 year)
You are paying off the total loan in 6 months and as you make the monthly payment each month there is a smaller principal balance that is charged the annual percentage.

closed #4