Paying off $15,000 at 24% APR
Computed month by month.
$588/mo
pays off $15,000 at 24% APR in 3 years · $6,186 interest
$15,000 at 24% APR by monthly payment
| Payment | Time to pay off | Total interest |
|---|---|---|
| $300/mo | never | – |
| $450/mo | 4 yr 8 mo | $9,966 |
| $588/mo | 3 yr 1 mo | $6,194 |
| $750/mo | 2 yr 2 mo | $4,348 |
| $1,500/mo | 1 yr 0 mo | $1,905 |
Assumes no new charges, fixed APR, interest compounded monthly.
Payment for a target payoff date
| Pay off in | Monthly payment | Interest |
|---|---|---|
| 12 months | $1,418 | $2,021 |
| 18 months | $1,001 | $3,010 |
| 24 months | $793 | $4,034 |
| 36 months | $588 | $6,186 |
| 48 months | $489 | $8,473 |
| 60 months | $432 | $10,891 |
FAQ
How long to pay off $15,000 at 24% paying 3% a month?
Paying a fixed $450 a month takes 4 yr 8 mo and costs about $9,966 in interest.
What payment clears $15,000 at 24% in 2 years?
About $793 a month, with $4,034 total interest.
Would a balance transfer help?
A 0% transfer for 18 months with a 3-5% fee ($450-$750) is usually cheaper than 24% APR if you can clear the balance during the promo.