Where do these numbers come from?
- Standard formulasAmortization M = P·r(1+r)^n / ((1+r)^n − 1) and monthly compoundingreviewed Oct 23, 2026
- Freddie MacPMMS mortgage-rate benchmarkweek of Oct 22, 2026
Checked Oct 23, 2026. $320,000 at 6.5% over 360 months: this calculator gives $2,022.62 a month and =PMT(6.5%/12; 360; -320000) in LibreOffice Calc (same PMT as Excel and Google Sheets) returns 2,022.62.
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$2,000 personal loan: monthly payment
| APR | 12 mo | 24 mo | 36 mo | 48 mo | 60 mo |
|---|---|---|---|---|---|
| 8% | $173.98 | $90.45 | $62.67 | $48.83 | $40.55 |
| 12% | $177.70 | $94.15 | $66.43 | $52.67 | $44.49 |
| 16% | $181.46 | $97.93 | $70.31 | $56.68 | $48.64 |
| 20% | $185.27 | $101.79 | $74.33 | $60.86 | $52.99 |
| 25% | $190.09 | $106.74 | $79.52 | $66.31 | $58.70 |
| 30% | $194.97 | $111.83 | $84.90 | $72.01 | $64.71 |
Worked example
At 12% APR over 36 months, the payment is $66.43 and total interest is $391. The same loan at 25% APR costs $863 in interest: the rate matters more than the term for total cost.
Rates in the tables are a range for comparison, not current market quotes. Payments are principal and interest only unless stated.
Frequently asked questions
What is the monthly payment on a $2,000 loan?
$66.43 for 36 months at 12% APR.