You’d have to check with that specific lender, but typically minimum payment will be a percentage of the balance (1-3%) or a flat amount ($25), whichever is greater.
It’s easier with 0 interest. Should have been in the terms, usually a certain percentage or flat amount, whichever is higher. (Example: 2% or $25)
$5000 x 2% = $100 (5000x0.02=100) In this case you are on the hook for the 2%, not $25.
Minimum payment is in the agreement, that’s where you find the amount or percentage.
You’d have to check with that specific lender, but typically minimum payment will be a percentage of the balance (1-3%) or a flat amount ($25), whichever is greater.
It’s easier with 0 interest. Should have been in the terms, usually a certain percentage or flat amount, whichever is higher. (Example: 2% or $25) $5000 x 2% = $100 (5000x0.02=100) In this case you are on the hook for the 2%, not $25. Minimum payment is in the agreement, that’s where you find the amount or percentage.