Example, for a loan amount of $ 5,000 on 24 months, you will pay 24 monthly payments of $ 214.91 (excluding optional insurance). The total amount due is $ 5,157.75. The annual rate fixed is 3.00%. The monthly cost of optional insurance is $ 9.05 and is in addition to the above monthly payments. The total amount due in respect of the insurance is $ 217,20.