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Car loan payment with PRINCIPAL + INTEREST example

In this video, I'm going to guide you through the ins and outs of car loan interest calculation. No more confusion or uncertainty! We'll focus on a practical example of a $20,000 car loan with a 3% interest rate over five years. Join me as I break down the process step by step, ensuring you understand how your monthly payment is divided between principal and interest. Discover the impact of a decreasing loan balance and how it affects your payment allocation. By the end of this video, you'll have the knowledge and confidence to calculate your car loan payments accurately. Subscribe now and empower yourself with the skills to take control of your car loan. Get ready to become a savvy borrower!

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