$5,000 loan at 10% for 5 years
Monthly payment
$106.24/mo
Total interest
$1,374
Total paid back
$6,374
Term
60 payments
Borrowing $5,000 at 10% APR over 5 years (60 monthly payments) means you pay $106.24 each month. Over the full term you repay $6,374 in total — that's $1,374 of interest on top of the $5,000 you borrowed.
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