$5,000 loan at 10% for 7 years
Monthly payment
$83.01/mo
Total interest
$1,972
Total paid back
$6,972
Term
84 payments
Borrowing $5,000 at 10% APR over 7 years (84 monthly payments) means you pay $83.01 each month. Over the full term you repay $6,972 in total — that's $1,972 of interest on top of the $5,000 you borrowed.
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