$100,000 loan at 6% for 3 years
Monthly payment
$3,042.19/mo
Total interest
$9,519
Total paid back
$109,519
Term
36 payments
Borrowing $100,000 at 6% APR over 3 years (36 monthly payments) means you pay $3,042.19 each month. Over the full term you repay $109,519 in total — that's $9,519 of interest on top of the $100,000 you borrowed.
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