Paying off $2,000 at 21% APR
Computed month by month.
$75/mo
pays off $2,000 at 21% APR in 3 years · $713 interest
$2,000 at 21% APR by monthly payment
| Payment | Time to pay off | Total interest |
|---|---|---|
| $40/mo | 10 yr 0 mo | $2,795 |
| $60/mo | 4 yr 3 mo | $1,028 |
| $75/mo | 3 yr 1 mo | $718 |
| $100/mo | 2 yr 1 mo | $483 |
| $200/mo | 1 yr 0 mo | $218 |
Assumes no new charges, fixed APR, interest compounded monthly.
Payment for a target payoff date
| Pay off in | Monthly payment | Interest |
|---|---|---|
| 12 months | $186 | $235 |
| 18 months | $130 | $349 |
| 24 months | $103 | $467 |
| 36 months | $75 | $713 |
| 48 months | $62 | $973 |
| 60 months | $54 | $1,246 |
FAQ
How long to pay off $2,000 at 21% paying 3% a month?
Paying a fixed $60 a month takes 4 yr 3 mo and costs about $1,028 in interest.
What payment clears $2,000 at 21% in 2 years?
About $103 a month, with $467 total interest.
Would a balance transfer help?
A 0% transfer for 18 months with a 3-5% fee ($60-$100) is usually cheaper than 21% APR if you can clear the balance during the promo.