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Can I get an explanation as to why additional principal payment lead to higher principal due?
Can I get an explanation as to why additional principal payment lead to higher principal due? I still cannot rack my brain on this, so I need some explanation. My car payment is $624 per month. I pay $700, always have. I have no problem making the payments. My intent is of course to have the extra $76 go towards the principal, but of course they automatically apply it towards the next month's payment. In order to have the additional tak...
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