$100,000 loan at 9% for 5 years
Monthly payment
$2,075.84/mo
Total interest
$24,550
Total paid back
$124,550
Term
60 payments
Borrowing $100,000 at 9% APR over 5 years (60 monthly payments) means you pay $2,075.84 each month. Over the full term you repay $124,550 in total — that's $24,550 of interest on top of the $100,000 you borrowed.
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