The Cost of Borrowing Money

Loan Literacy 101

Did you know?

If you borrow $50,000 at an 8 percent annual interest rate, to be paid back over 20 years, do you know how much it will cost you?

Don't believe it?

Try the loan calculator below to see how much it costs to borrow money.


Written by Ted Frick February 8, 2001 (revised June 24, 2012)