You can estimate almost any fixed-rate loan payment from a per-$1,000 table. At 12% over 36 months, the payment is $33.21 for every $1,000 borrowed, so a $18,000 loan costs about $597.86.
Monthly payment per $1,000
| APR | 12 months | 24 months | 36 months | 48 months | 60 months |
|---|---|---|---|---|---|
| 6% | $86.07 | $44.32 | $30.42 | $23.49 | $19.33 |
| 9% | $87.45 | $45.68 | $31.80 | $24.89 | $20.76 |
| 12% | $88.85 | $47.07 | $33.21 | $26.33 | $22.24 |
| 15% | $90.26 | $48.49 | $34.67 | $27.83 | $23.79 |
| 18% | $91.68 | $49.92 | $36.15 | $29.37 | $25.39 |
| 24% | $94.56 | $52.87 | $39.23 | $32.60 | $28.77 |
How to use it
Multiply the number in the table by your loan amount divided by 1,000. A $7,500 loan at 15% over 24 months: $48.49 × 7.5 = $363.65.
What we assumed
- Fixed APR and equal monthly payments; no late fees.
- Origination fees are zero unless the post says otherwise.
Related calculators: Personal Loan Calculator, Auto Loan Calculator.
Questions people ask
Does this work for car loans too?
Yes. Any fixed-rate, fully amortizing loan uses the same math.
Estimates for general education, not financial, tax or legal advice. Real results depend on your lender, employer, tax situation and location. See the disclaimer.