Debt Payoff Calculator
Estimate how long it takes to pay off a balance and how much interest it costs.
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Time to pay off
2 years 9 months- Total interest: $1,521.02
- Total paid: $6,521.02
Estimates only. Before taxes and deductions.
How this calculator works
Each month interest is added to the balance at one twelfth of the APR, then your payment is subtracted. The calculator repeats until the balance is zero. Your payment must be larger than the monthly interest or the balance never shrinks.
Frequently asked questions
How can I pay off debt faster?
Pay more than the minimum, and put extra money toward the highest-interest balance first.
Does this work for credit cards?
Yes, if you stop adding new charges. Real cards may change rates and minimums over time.