Paying off $3,000 at 18% APR
Computed month by month.
$108/mo
pays off $3,000 at 18% APR in 3 years · $904 interest
$3,000 at 18% APR by monthly payment
| Payment | Time to pay off | Total interest |
|---|---|---|
| $60/mo | 7 yr 10 mo | $2,587 |
| $90/mo | 3 yr 11 mo | $1,190 |
| $108/mo | 3 yr 1 mo | $910 |
| $150/mo | 2 yr 0 mo | $593 |
| $300/mo | 11 mo | $275 |
Assumes no new charges, fixed APR, interest compounded monthly.
Payment for a target payoff date
| Pay off in | Monthly payment | Interest |
|---|---|---|
| 12 months | $275 | $300 |
| 18 months | $191 | $446 |
| 24 months | $150 | $595 |
| 36 months | $108 | $904 |
| 48 months | $88 | $1,230 |
| 60 months | $76 | $1,571 |
FAQ
How long to pay off $3,000 at 18% paying 3% a month?
Paying a fixed $90 a month takes 3 yr 11 mo and costs about $1,190 in interest.
What payment clears $3,000 at 18% in 2 years?
About $150 a month, with $595 total interest.
Would a balance transfer help?
A 0% transfer for 18 months with a 3-5% fee ($90-$150) is usually cheaper than 18% APR if you can clear the balance during the promo.