$3,000 loan at 7% for 7 years
Monthly payment
$45.28/mo
Total interest
$803
Total paid back
$3,803
Term
84 payments
Borrowing $3,000 at 7% APR over 7 years (84 monthly payments) means you pay $45.28 each month. Over the full term you repay $3,803 in total — that's $803 of interest on top of the $3,000 you borrowed.
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