$3,000 loan at 4% for 7 years
Monthly payment
$41.01/mo
Total interest
$445
Total paid back
$3,445
Term
84 payments
Borrowing $3,000 at 4% APR over 7 years (84 monthly payments) means you pay $41.01 each month. Over the full term you repay $3,445 in total — that's $445 of interest on top of the $3,000 you borrowed.
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