$3,000 loan at 3% for 3 years
Monthly payment
$87.24/mo
Total interest
$141
Total paid back
$3,141
Term
36 payments
Borrowing $3,000 at 3% APR over 3 years (36 monthly payments) means you pay $87.24 each month. Over the full term you repay $3,141 in total — that's $141 of interest on top of the $3,000 you borrowed.
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