$20,000 loan at 9% for 7 years
Monthly payment
$321.78/mo
Total interest
$7,030
Total paid back
$27,030
Term
84 payments
Borrowing $20,000 at 9% APR over 7 years (84 monthly payments) means you pay $321.78 each month. Over the full term you repay $27,030 in total — that's $7,030 of interest on top of the $20,000 you borrowed.
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