"15% average interest over the course of the loan"pacewah, it's...

"15% average interest over the course of the loan"

pacewah, it's a 15% AVERAGE over 5 years so you are right some years they may pay lower or higher, but the key term is AVERAGE.
Once again I'm just going off the wording in the ann. but to get a 15 average over 5 years the total number would have to be 75... so i guess you can fit in that 75 over the 5 years anyway you like, for eg. 8 % p.a , 12p.a, 25p.a , 19%p.a , 11%p.a


your initial 3% p.a would only be viable if they worded it like "accumulated interest over the course of the loan is 15%" or something along those lines.. but they used the term
"15% AVERAGE" .