$3,000 loan at 9% for 30 years
Monthly payment
$24.14/mo
Total interest
$5,690
Total paid back
$8,690
Term
360 payments
Borrowing $3,000 at 9% APR over 30 years (360 monthly payments) means you pay $24.14 each month. Over the full term you repay $8,690 in total — that's $5,690 of interest on top of the $3,000 you borrowed.
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