What is the monthly payment on a $100,000 loan at 4% for 3 years?
Answer
$2,952/month
Monthly payment: $2,952Total interest: $6,286Total cost: $106,28636 monthly payments
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How We Calculated This
M = P × [r(1+r)^n] / [(1+r)^n - 1]
P=$100,000, r=4%/12=0.3333%, n=36. M = $2,952
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Calculated using verified formulas. Last updated March 2026.