$3,000 loan at 3% for 15 years
Monthly payment
$20.72/mo
Total interest
$729
Total paid back
$3,729
Term
180 payments
Borrowing $3,000 at 3% APR over 15 years (180 monthly payments) means you pay $20.72 each month. Over the full term you repay $3,729 in total — that's $729 of interest on top of the $3,000 you borrowed.
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