Paying off $1,000 at 18% APR
Computed month by month.
$36/mo
pays off $1,000 at 18% APR in 3 years · $301 interest
$1,000 at 18% APR by monthly payment
| Payment | Time to pay off | Total interest |
|---|---|---|
| $25/mo | 5 yr 2 mo | $539 |
| $30/mo | 3 yr 11 mo | $397 |
| $36/mo | 3 yr 1 mo | $303 |
| $50/mo | 2 yr 0 mo | $198 |
| $100/mo | 11 mo | $92 |
Assumes no new charges, fixed APR, interest compounded monthly.
Payment for a target payoff date
| Pay off in | Monthly payment | Interest |
|---|---|---|
| 12 months | $92 | $100 |
| 18 months | $64 | $149 |
| 24 months | $50 | $198 |
| 36 months | $36 | $301 |
| 48 months | $29 | $410 |
| 60 months | $25 | $524 |
FAQ
How long to pay off $1,000 at 18% paying 3% a month?
Paying a fixed $30 a month takes 3 yr 11 mo and costs about $397 in interest.
What payment clears $1,000 at 18% in 2 years?
About $50 a month, with $198 total interest.
Would a balance transfer help?
A 0% transfer for 18 months with a 3-5% fee ($30-$50) is usually cheaper than 18% APR if you can clear the balance during the promo.