$100,000 loan at 8% for 3 years
Monthly payment
$3,133.64/mo
Total interest
$12,811
Total paid back
$112,811
Term
36 payments
Borrowing $100,000 at 8% APR over 3 years (36 monthly payments) means you pay $3,133.64 each month. Over the full term you repay $112,811 in total — that's $12,811 of interest on top of the $100,000 you borrowed.