The total payments of the monthly installment plan don't equal the agreed total. For example, one of our giving levels is set to $100 which would be paid off in 12 months. The "today's payment" shows as $8.37, but 12 * $8.37 equals $100.44. Why is the system charging an extra 44 cents?
The Today's total is charging a few cents extra than what the monthly payments will be and that is to make sure the next 11 payments will evenly pay off the full balance. So here is how the math works out.
11 * $8.33 + (today's total of $8.37) = $100
The initial payment is 8.37 but the remaining 11 payments will be 8.33 to pay off the $100 plan in the next 11 payments.