CALCULATOR · FREE免费 · Free
Debt Payoff Calculator
Cards and loans accrue interest and are repaid monthly. Enter balance, APR and monthly payment to estimate months to payoff, total paid and how much is interest; if the payment is below the interest, it shows that the balance never falls.
--Months · months
--Years · years
--Total paid · $
--Interest · $
Estimates only; verify on site before ordering or building.
Example
| Item | Value | Unit |
|---|---|---|
| Balance | 5000 | $ |
| APR | 20 | % |
| Monthly payment | 200 | $ |
| Months | 33 | months |
| Years | 2.8 | years |
| Total paid | 6600 | $ |
| Interest | 1600 | $ |
Where people go wrong
- Paying only the minimum and stretching interest.
- Using APR as the monthly rate.
- Ignoring new charges or annual fees.
FAQ
What if the payment is below interest?
The balance never falls; raise the payment or lower the rate.
Which card first?
Mathematically the highest APR first (avalanche); psychologically the smallest balance first (snowball).
Is this financial advice?
No; consult a licensed advisor or nonprofit credit counselor.