$10,000 loan at 6% for 3 years
Monthly payment
$304.22/mo
Total interest
$952
Total paid back
$10,952
Term
36 payments
Borrowing $10,000 at 6% APR over 3 years (36 monthly payments) means you pay $304.22 each month. Over the full term you repay $10,952 in total — that's $952 of interest on top of the $10,000 you borrowed.
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