how much interested on a 5000 dollar loan?
if i got a loan for 5000 dollars how much interested will i have to pay back and how long will it take to pay it back
need to pay off some bills
- Mary ContraryLv 79 years agoFavorite Answer
Only the person who lends you the money can answer this question. You need to know the length of the loan, the interest (not interested) rate, the amount of the payments, and the number of payments.
- STEVEN FLv 79 years ago
What is the interest rate?
The TERM, aka length of the loan, depends on the individual loan.
Your PROBLEM is you just declared yourself financially ILLITERATE. A loan WON'T pay of anything. It will only change WHO you owe. Believing it is POSSIBLE to answer your question given the information you provided is WHY you are in trouble.
- Steve DLv 79 years ago
You need to check with your lender - different lenders have different terms, so the total amount you pay back depends on the interest rate (which depends on your credit rating - the worse your score, the higher the rate) and the term of the loan.
- Ryan MLv 79 years ago
Depends on the interest rate and how long you want to take to pay it back.Source(s): Common sense for anyone with a high school level education.