$5,000 loan at 10% for 10 years
Monthly payment
$66.08/mo
Total interest
$2,929
Total paid back
$7,929
Term
120 payments
Borrowing $5,000 at 10% APR over 10 years (120 monthly payments) means you pay $66.08 each month. Over the full term you repay $7,929 in total — that's $2,929 of interest on top of the $5,000 you borrowed.
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