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Help on Calculating monthly interest and apr on car loan..?

I made a car loan of 10,245.54, the APR rate is 10.6%. The Finance charge is 3,705.90 Now here is the question i am making big payments so i can finish repaying the loan as soon as possible. The payment term is 72 months. How do i calculate the monthly interest to see how much interest im paying off? I know the monthly interest is .84% do I multiply that by for example 10,245.54? now if I pay off lets say 2,000 dollars next month instead the 193.77 that monthly payment schedule? it would be 8,245.54 not inclduding the interest. But I don't know how to calculate in the interest? Do I multiply 8,245.54 by .84% or the original amount that is lended thats the amount of interest being paid? 10,245.54 x .84% each month??

Public Comments

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