Question About a Personal Loan

<p>Unexpected expenses have been crawling up on me lately. I didn't want to take a loan, but I might have to.</p>

<p>I checked out a Wells Fargo personal loan. They show how much you have to pay each month for a 12 month period.</p>

<p>It shows that the monthly payment for a $5,000 loan is $437.84 (which would come out to $5,254.08 for 12 months).</p>

<p>Is that the amount I would actually pay for the 12 month loan?</p>

<p>"Rate and Payment Calculator Results
The following are results for: Secured Personal Loan in Texas.
Amount Term APR* Monthly Payment<br>
$5,000 12 months 9.25% $437.84
Start Over </p>

<p>Next Steps</p>

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<p>That sounds about right. They’d be selling you $5,000 for $5,437.84.</p>