$10,000 loan at 8% for 10 years
Monthly payment
$121.33/mo
Total interest
$4,559
Total paid back
$14,559
Term
120 payments
Borrowing $10,000 at 8% APR over 10 years (120 monthly payments) means you pay $121.33 each month. Over the full term you repay $14,559 in total — that's $4,559 of interest on top of the $10,000 you borrowed.
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