how much interested on a 5000 dollar loan?

Question

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

Answer 1

Favorite 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.

Answer 2

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.

Answer 3

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.

Answer 4

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.