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What Different Types of Loans Cost

$8,500 loan	Credit card 17% APR	Credit card 13.5% APR	Credit card 10% APR	Fixed equity loan 7% APR	Home equity line of credit 4% variable APR
Monthly payment	$170*	$170*	$170*	$99	$86**
Term to pay off	47 years 9 months	33 years	25 years 7 months	10 years	10 years
Total interest paid	$18,464	$9,911	$5,461	$3,343	$1,825**
* The calcuations assume minimum payments are made on the credit cards, equal to 2% of the outstanding balance. ** This figure may change if the line of credit's rate changes.