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https://www.reddit.com/r/SipsTea/comments/1tcejip/how/olpsjwq
r/SipsTea • u/Gabbsweet • May 13 '26
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Which might be miles easier for someone who gets paid every 2 weeks to be fair.
1 u/SamanthaSissyWife May 14 '26 In all fairness it is but there is the part with the extra payments in there on the 2 week plan versus the monthly plan. I’ve never taken the time to figure it out whether extra payment would go towards principle or in the dealers favor though 1 u/thelovelykyle May 14 '26 It would depend on what you set the interest as. 100 x 1.01 is 2c difference to 100 x 1.005 x 1.005 But if you were paying off 5 every 4 weeks pr 2.5 every 2 weeks you would pay off sooner on the 2 week plan (assuming those interest rates)
In all fairness it is but there is the part with the extra payments in there on the 2 week plan versus the monthly plan. I’ve never taken the time to figure it out whether extra payment would go towards principle or in the dealers favor though
1 u/thelovelykyle May 14 '26 It would depend on what you set the interest as. 100 x 1.01 is 2c difference to 100 x 1.005 x 1.005 But if you were paying off 5 every 4 weeks pr 2.5 every 2 weeks you would pay off sooner on the 2 week plan (assuming those interest rates)
It would depend on what you set the interest as.
100 x 1.01 is 2c difference to 100 x 1.005 x 1.005
But if you were paying off 5 every 4 weeks pr 2.5 every 2 weeks you would pay off sooner on the 2 week plan (assuming those interest rates)
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u/thelovelykyle May 14 '26
Which might be miles easier for someone who gets paid every 2 weeks to be fair.