$3,000 loan at 6% for 10 years
Monthly payment
$33.31/mo
Total interest
$997
Total paid back
$3,997
Term
120 payments
Borrowing $3,000 at 6% APR over 10 years (120 monthly payments) means you pay $33.31 each month. Over the full term you repay $3,997 in total — that's $997 of interest on top of the $3,000 you borrowed.
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