$7,500 loan at 8% for 7 years
Monthly payment
$116.90/mo
Total interest
$2,319
Total paid back
$9,819
Term
84 payments
Borrowing $7,500 at 8% APR over 7 years (84 monthly payments) means you pay $116.90 each month. Over the full term you repay $9,819 in total — that's $2,319 of interest on top of the $7,500 you borrowed.
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