$125,000 loan at 5% for 5 years
Monthly payment
$2,358.90/mo
Total interest
$16,534
Total paid back
$141,534
Term
60 payments
Borrowing $125,000 at 5% APR over 5 years (60 monthly payments) means you pay $2,358.90 each month. Over the full term you repay $141,534 in total — that's $16,534 of interest on top of the $125,000 you borrowed.
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