$2,000 loan at 9% for 7 years
Monthly payment
$32.18/mo
Total interest
$703
Total paid back
$2,703
Term
84 payments
Borrowing $2,000 at 9% APR over 7 years (84 monthly payments) means you pay $32.18 each month. Over the full term you repay $2,703 in total — that's $703 of interest on top of the $2,000 you borrowed.
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