$3,000 loan at 8% for 7 years
Monthly payment
$46.76/mo
Total interest
$928
Total paid back
$3,928
Term
84 payments
Borrowing $3,000 at 8% APR over 7 years (84 monthly payments) means you pay $46.76 each month. Over the full term you repay $3,928 in total — that's $928 of interest on top of the $3,000 you borrowed.
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