$5,000 loan at 4% for 3 years
Monthly payment
$147.62/mo
Total interest
$314
Total paid back
$5,314
Term
36 payments
Borrowing $5,000 at 4% APR over 3 years (36 monthly payments) means you pay $147.62 each month. Over the full term you repay $5,314 in total — that's $314 of interest on top of the $5,000 you borrowed.
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