$100,000 loan at 4% for 10 years
Monthly payment
$1,012.45/mo
Total interest
$21,494
Total paid back
$121,494
Term
120 payments
Borrowing $100,000 at 4% APR over 10 years (120 monthly payments) means you pay $1,012.45 each month. Over the full term you repay $121,494 in total — that's $21,494 of interest on top of the $100,000 you borrowed.
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