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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$5,000 personal loan: monthly payment
| APR | 12 mo | 24 mo | 36 mo | 48 mo | 60 mo |
|---|---|---|---|---|---|
| 8% | $434.94 | $226.14 | $156.68 | $122.06 | $101.38 |
| 12% | $444.24 | $235.37 | $166.07 | $131.67 | $111.22 |
| 16% | $453.65 | $244.82 | $175.79 | $141.70 | $121.59 |
| 20% | $463.17 | $254.48 | $185.82 | $152.15 | $132.47 |
| 25% | $475.22 | $266.86 | $198.80 | $165.79 | $146.76 |
| 30% | $487.44 | $279.56 | $212.26 | $180.03 | $161.77 |
Worked example
At 12% APR over 36 months, the payment is $166.07 and total interest is $979. The same loan at 25% APR costs $2,157 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 $5,000 loan?
$166.07 for 36 months at 12% APR.