Estimate the monthly payment on a $10,000 personal loan. Adjust the rate and term below to match your offer.
Estimated monthly payment
$332.14
at 12% APR over 3 years
| APR | Monthly Payment | Total Interest |
|---|---|---|
| 4% | $295.24 | $628.63 |
| 5% | $299.71 | $789.52 |
| 6% | $304.22 | $951.90 |
| 7% | $308.77 | $1,115.75 |
| 8% | $313.36 | $1,281.09 |
| 9% | $318.00 | $1,447.90 |
| 10% | $322.67 | $1,616.19 |
| 12% | $332.14 | $1,957.15 |
The monthly payment uses the standard amortizing loan formula: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where P is the $10,000 principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments (years × 12). Each payment covers the interest accrued that month first, with the remainder reducing the principal — so early payments are mostly interest and later payments are mostly principal.