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Debt Payoff Calculator

Enter a balance, APR, and monthly payment to estimate the payoff timeline, total interest, and expected payoff month.

BalanceAPR (%)Monthly payment

Time to payoff

Total interest

$3,497.96

Projected payoff date

January 2030

How payoff time is estimated

The calculator assumes a fixed monthly payment and applies monthly interest before subtracting the payment to estimate payoff time and total interest.

Calculation notes

APR is converted into a monthly interest rate.
Interest is added before each payment is applied.
If payment is lower than monthly interest, the balance cannot amortize.

Frequently asked questions

Do extra payments help a lot? expand_more

Yes. Higher monthly payments usually reduce both payoff time and total interest, especially on high-rate debt.

Can I use this for minimum credit card payments? expand_more

It can be used as a quick estimate, but actual card issuer rules may change the required minimum.