20.4%!!!!! yikes! Your credit rating must be in the toilet!!! 15,601$ compounded monthly at 20.4% (with no payments made) will reach 27,350% in just three months (i didnt feel like working it out further but one more month an youll more than double your original balance). Month one - 3,183$ int Month two - 3,832$ int Month three - 4,634$ int
Over six years at 20.4% interest youre gonna pay 100,000$ plus in interest. Maybe a lot more than that.