So I recently applied for a loan through USBanks for a boat in the amount of $22,700. My payments were approx. $250/month and I paid $275 each month. After five months in I decided to see how much my principle dropped. $275 x 5 payments = $1,375 paid... Ready for this.. I still owe $22,366. They put $334 towards principle and kept $1041 for interest.. This is a 9.75% loan and my credit is top tier. Just paid it off today!!!