$5,000 loan at 6% for 10 years
Monthly payment
$55.51/mo
Total interest
$1,661
Total paid back
$6,661
Term
120 payments
Borrowing $5,000 at 6% APR over 10 years (120 monthly payments) means you pay $55.51 each month. Over the full term you repay $6,661 in total — that's $1,661 of interest on top of the $5,000 you borrowed.
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