$125,000 loan at 8% for 20 years
Monthly payment
$1,045.55/mo
Total interest
$125,932
Total paid back
$250,932
Term
240 payments
Borrowing $125,000 at 8% APR over 20 years (240 monthly payments) means you pay $1,045.55 each month. Over the full term you repay $250,932 in total — that's $125,932 of interest on top of the $125,000 you borrowed.
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