$5,000 loan at 9% for 10 years
Monthly payment
$63.34/mo
Total interest
$2,601
Total paid back
$7,601
Term
120 payments
Borrowing $5,000 at 9% APR over 10 years (120 monthly payments) means you pay $63.34 each month. Over the full term you repay $7,601 in total — that's $2,601 of interest on top of the $5,000 you borrowed.
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