$3,000 loan at 7% for 3 years
Monthly payment
$92.63/mo
Total interest
$335
Total paid back
$3,335
Term
36 payments
Borrowing $3,000 at 7% APR over 3 years (36 monthly payments) means you pay $92.63 each month. Over the full term you repay $3,335 in total — that's $335 of interest on top of the $3,000 you borrowed.
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