My wife and I took out a consumer loan with Wells Fargo National Bank XX/XX/XXXX. The loan was repaid by XX/XX/XXXX. We missed paying it back in a year by 10 days. Wells Fargo Bank said we owed {$480.00} interest. I paid {$250.00} in XX/XX/XXXX and planned to pay the remaining balance in XX/XX/XXXX {$7.00} interest was added to the XX/XX/XXXX balance of {$230.00}. My question is why are we being charged interest on interest? 
