Paying off $1,000 at 24% APR
Computed month by month.
$39/mo
pays off $1,000 at 24% APR in 3 years · $412 interest
$1,000 at 24% APR by monthly payment
| Payment | Time to pay off | Total interest |
|---|---|---|
| $25/mo | 6 yr 10 mo | $1,032 |
| $30/mo | 4 yr 8 mo | $664 |
| $39/mo | 3 yr 1 mo | $416 |
| $50/mo | 2 yr 2 mo | $290 |
| $100/mo | 1 yr 0 mo | $127 |
Assumes no new charges, fixed APR, interest compounded monthly.
Payment for a target payoff date
| Pay off in | Monthly payment | Interest |
|---|---|---|
| 12 months | $95 | $135 |
| 18 months | $67 | $201 |
| 24 months | $53 | $269 |
| 36 months | $39 | $412 |
| 48 months | $33 | $565 |
| 60 months | $29 | $726 |
FAQ
How long to pay off $1,000 at 24% paying 3% a month?
Paying a fixed $30 a month takes 4 yr 8 mo and costs about $664 in interest.
What payment clears $1,000 at 24% in 2 years?
About $53 a month, with $269 total interest.
Would a balance transfer help?
A 0% transfer for 18 months with a 3-5% fee ($30-$50) is usually cheaper than 24% APR if you can clear the balance during the promo.