How Much To Pay Back Over The Whole Time

[Ric.ror]

If a loan of £5000 over 14 years at 3.99% ?

Many thanks

[fiction-factory]

There are online calculators- just google your own question. It will depend on the repayment schedule- probably monthly (in advance or at end of month?) and any balloon payments

[Jackdaw33]

Someone, unlike me, who can remember the formula for compound interest will be able to help.

[fiction-factory]

Rough figure:
Average balance over 14 years if repaid evenly will be £2500. Total interest around £1400. Total repayment £6400.
Seems lower than expected so maybe I have missed something. More likely £6500

[fiction-factory]

http://www.online-calculators.co.uk/interest/loanrepayment.php

[hc4361]

£6,534

http://www.thisismoney.co.uk/money/cardsloans/article-1633405/Loan-repayment-calculator.html

[Ric.ror]

Thanks everyone - not as much as I thought to be honest

[Old_Geezer]

Well it is a low rate.

[Ric.ror]

Thank you all for your answers - they are most useful