$3,000 loan at 10% for 7 years
Monthly payment
$49.80/mo
Total interest
$1,183
Total paid back
$4,183
Term
84 payments
Borrowing $3,000 at 10% APR over 7 years (84 monthly payments) means you pay $49.80 each month. Over the full term you repay $4,183 in total — that's $1,183 of interest on top of the $3,000 you borrowed.
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