Monthly Payment on a $3,000 Loan at 8% APR for 18 Months
A $3,000 loan at 8% APR repaid over 18 months has a monthly payment of $177.42. Over the full 18 months (1.5 years) term you'd pay $193.58 in total interest, bringing the total cost of the loan to $3,193.58. A 8% APR is typical for borrowers with very good credit (720+). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$177.42
at 8% APR
Total Interest
$193.58
over 18 months
Total Cost
$3,193.58
principal + interest
Loan Summary
$3,000 · 8% APR · 18 months
| Loan amount | $3,000 |
| Interest rate (APR) | 8% |
| Term | 18 months (1.5 years) |
| Monthly payment | $177.42 |
| Total interest paid | $193.58 |
| Total cost of loan | $3,193.58 |
Loan Calculator
Monthly Payment
$177.42
Total Paid
$3,193.58
Total Interest
$193.58
$3,000 at 8% APR · 18-Month Loan FAQs
What is the monthly payment on a $3,000 loan at 8% APR for 18 months?
The monthly payment on a $3,000 loan at 8% APR over 18 months is $177.42. This is calculated with the standard amortization formula and assumes equal fixed payments for the full term.
How much total interest will I pay on this $3,000 loan?
At 8% APR over 18 months, you'll pay $193.58 in total interest on a $3,000 loan. Combined with the $3,000 you borrowed, the total amount repaid is $3,193.58.
Is 8% a good APR for a personal loan?
A 8% APR is generally available to borrowers with very good credit (720+). This is among the lower rates lenders offer and reflects strong creditworthiness.
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