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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$3,000 personal loan: monthly payment
| APR | 12 mo | 24 mo | 36 mo | 48 mo | 60 mo |
|---|---|---|---|---|---|
| 8% | $260.97 | $135.68 | $94.01 | $73.24 | $60.83 |
| 12% | $266.55 | $141.22 | $99.64 | $79.00 | $66.73 |
| 16% | $272.19 | $146.89 | $105.47 | $85.02 | $72.95 |
| 20% | $277.90 | $152.69 | $111.49 | $91.29 | $79.48 |
| 25% | $285.13 | $160.11 | $119.28 | $99.47 | $88.05 |
| 30% | $292.46 | $167.74 | $127.35 | $108.02 | $97.06 |
Worked example
At 12% APR over 36 months, the payment is $99.64 and total interest is $587. The same loan at 25% APR costs $1,294 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 $3,000 loan?
$99.64 for 36 months at 12% APR.
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