$3,000 loan at 3% for 7 years
Monthly payment
$39.64/mo
Total interest
$330
Total paid back
$3,330
Term
84 payments
Borrowing $3,000 at 3% APR over 7 years (84 monthly payments) means you pay $39.64 each month. Over the full term you repay $3,330 in total — that's $330 of interest on top of the $3,000 you borrowed.
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