$2,000 loan at 9% for 25 years
Monthly payment
$16.78/mo
Total interest
$3,035
Total paid back
$5,035
Term
300 payments
Borrowing $2,000 at 9% APR over 25 years (300 monthly payments) means you pay $16.78 each month. Over the full term you repay $5,035 in total — that's $3,035 of interest on top of the $2,000 you borrowed.
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