Paying off $2,000 at 18% APR
Computed month by month.
$72/mo
pays off $2,000 at 18% APR in 3 years · $603 interest
$2,000 at 18% APR by monthly payment
| Payment | Time to pay off | Total interest |
|---|---|---|
| $40/mo | 7 yr 10 mo | $1,724 |
| $60/mo | 3 yr 11 mo | $793 |
| $72/mo | 3 yr 1 mo | $607 |
| $100/mo | 2 yr 0 mo | $396 |
| $200/mo | 11 mo | $183 |
Assumes no new charges, fixed APR, interest compounded monthly.
Payment for a target payoff date
| Pay off in | Monthly payment | Interest |
|---|---|---|
| 12 months | $183 | $200 |
| 18 months | $128 | $297 |
| 24 months | $100 | $396 |
| 36 months | $72 | $603 |
| 48 months | $59 | $820 |
| 60 months | $51 | $1,047 |
FAQ
How long to pay off $2,000 at 18% paying 3% a month?
Paying a fixed $60 a month takes 3 yr 11 mo and costs about $793 in interest.
What payment clears $2,000 at 18% in 2 years?
About $100 a month, with $396 total interest.
Would a balance transfer help?
A 0% transfer for 18 months with a 3-5% fee ($60-$100) is usually cheaper than 18% APR if you can clear the balance during the promo.