$1,000,000 loan at 8% for 30 years
Monthly payment
$7,337.65/mo
Total interest
$1,641,552
Total paid back
$2,641,552
Term
360 payments
Borrowing $1,000,000 at 8% APR over 30 years (360 monthly payments) means you pay $7,337.65 each month. Over the full term you repay $2,641,552 in total — that's $1,641,552 of interest on top of the $1,000,000 you borrowed.