Monthly Payment on a $5,000 Loan at 24% APR for 84 Months
A $5,000 loan at 24% APR repaid over 84 months has a monthly payment of $123.38. Over the full 84 months (7 years) term you'd pay $5,363.84 in total interest, bringing the total cost of the loan to $10,363.84. A 24% APR is typical for borrowers with poor or building credit (below 630). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$123.38
at 24% APR
Total Interest
$5,363.84
over 84 months
Total Cost
$10,363.84
principal + interest
Loan Summary
$5,000 · 24% APR · 84 months
| Loan amount | $5,000 |
| Interest rate (APR) | 24% |
| Term | 84 months (7 years) |
| Monthly payment | $123.38 |
| Total interest paid | $5,363.84 |
| Total cost of loan | $10,363.84 |
Loan Calculator
Monthly Payment
$123.38
Total Paid
$10,363.84
Total Interest
$5,363.84
$5,000 at 24% APR · 84-Month Loan FAQs
What is the monthly payment on a $5,000 loan at 24% APR for 84 months?
The monthly payment on a $5,000 loan at 24% APR over 84 months is $123.38. 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 $5,000 loan?
At 24% APR over 84 months, you'll pay $5,363.84 in total interest on a $5,000 loan. Combined with the $5,000 you borrowed, the total amount repaid is $10,363.84.
Is 24% a good APR for a personal loan?
A 24% APR is generally available to borrowers with poor or building credit (below 630). This is on the higher end. Shopping multiple lenders, reducing your debt-to-income ratio, or improving your credit before applying can lower your rate substantially.
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