$125,000 loan at 7% for 20 years
Monthly payment
$969.12/mo
Total interest
$107,590
Total paid back
$232,590
Term
240 payments
Borrowing $125,000 at 7% APR over 20 years (240 monthly payments) means you pay $969.12 each month. Over the full term you repay $232,590 in total — that's $107,590 of interest on top of the $125,000 you borrowed.
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