$7,500 loan at 6% for 7 years
Monthly payment
$109.56/mo
Total interest
$1,703
Total paid back
$9,203
Term
84 payments
Borrowing $7,500 at 6% APR over 7 years (84 monthly payments) means you pay $109.56 each month. Over the full term you repay $9,203 in total — that's $1,703 of interest on top of the $7,500 you borrowed.
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