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$3,000 loan at 6% for 30 years

Monthly payment

$17.99/mo

Total interest

$3,475

Total paid back

$6,475

Term

360 payments

Borrowing $3,000 at 6% APR over 30 years (360 monthly payments) means you pay $17.99 each month. Over the full term you repay $6,475 in total — that's $3,475 of interest on top of the $3,000 you borrowed.

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