$2,000 loan at 5% for 20 years
Monthly payment
$13.20/mo
Total interest
$1,168
Total paid back
$3,168
Term
240 payments
Borrowing $2,000 at 5% APR over 20 years (240 monthly payments) means you pay $13.20 each month. Over the full term you repay $3,168 in total — that's $1,168 of interest on top of the $2,000 you borrowed.