$5,000 loan at 3% for 10 years
Monthly payment
$48.28/mo
Total interest
$794
Total paid back
$5,794
Term
120 payments
Borrowing $5,000 at 3% APR over 10 years (120 monthly payments) means you pay $48.28 each month. Over the full term you repay $5,794 in total — that's $794 of interest on top of the $5,000 you borrowed.
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