$2,000 loan at 9% for 5 years
Monthly payment
$41.52/mo
Total interest
$491
Total paid back
$2,491
Term
60 payments
Borrowing $2,000 at 9% APR over 5 years (60 monthly payments) means you pay $41.52 each month. Over the full term you repay $2,491 in total — that's $491 of interest on top of the $2,000 you borrowed.
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