$2,000 loan at 9% for 3 years
Monthly payment
$63.60/mo
Total interest
$290
Total paid back
$2,290
Term
36 payments
Borrowing $2,000 at 9% APR over 3 years (36 monthly payments) means you pay $63.60 each month. Over the full term you repay $2,290 in total — that's $290 of interest on top of the $2,000 you borrowed.
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