Interest and Total Payments
$10,000 Loan over Five Years
Interest
rate
Monthly
payment
Total paid
5%
$188.70
$11,322.00
10%
$212.50
$12,750.00
15%
$237.90
$14,274.00
18%
$253.90
$15,234.00
Banks make the most money and take the most risk with an interest rate of
5 percent
10 percent
15 percent
18 percent