$5,000 loan at 6% for 3 years
Monthly payment
$152.11/mo
Total interest
$476
Total paid back
$5,476
Term
36 payments
Borrowing $5,000 at 6% APR over 3 years (36 monthly payments) means you pay $152.11 each month. Over the full term you repay $5,476 in total — that's $476 of interest on top of the $5,000 you borrowed.
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