Paying off $5,000: months and interest
| Monthly payment | 18% APR | 22% APR | 26% APR | 30% APR |
|---|---|---|---|---|
| $100 | 94 mo · $4,400 | 137 mo · $8,700 | never | never |
| $150 | 47 mo · $2,050 | 52 mo · $2,800 | 60 mo · $4,000 | 73 mo · $5,950 |
| $250 | 24 mo · $1,000 | 26 mo · $1,500 | 27 mo · $1,750 | 29 mo · $2,250 |
| $500 | 11 mo · $500 | 12 mo · $1,000 | 12 mo · $1,000 | 12 mo · $1,000 |
Interest is approximate (last payment treated as full).
Worked example
Paying $250 a month on $5,000 at 22% APR takes 26 months. Doubling the payment to $500 cuts it to 12 months.
Frequently asked questions
How long to pay off $5,000 paying $250 a month?
26 months at 22% APR.