Debt payoff calculator
When a credit card or loan is gone, what the interest costs, and what a larger payment changes.
The amount left today, not the original loan.
The yearly rate on the statement.
Use the amount you actually send, not only the minimum, if you pay more.
Paid off in
4 years, 1 month
You pay $9,724.04 in all, including $3,324.04 of interest.
- Interest
- $3,324.04
- Total you pay
- $9,724.04
- At $250.00 a month
- 1 year, 2 months sooner · saves $1,006.14
- At $300.00 a month
- 1 year, 9 months sooner · saves $1,532.09
Know your debt-free date. Now survive the months between.
See exactly which months get tight while you pay this off.
Start free 14-day trialHow this number is calculated
Each month, the balance is charged one-twelfth of the APR, rounded to the cent. The payment covers that interest first. Whatever is left reduces the balance. The last payment is only the remaining balance plus that month's interest.
If the payment is less than or equal to the interest, the balance does not fall, and the result says so. The rate is assumed to stay fixed, and the payment is assumed to stay the same, until the balance is gone.
Common questions
Does this work for a credit card and a car loan?
Yes, for a balance with a fixed interest rate and a fixed monthly payment. A promotional rate that expires, or a payment that changes, needs a separate run once the new rate or payment is known.
What if my payment only covers the interest?
The balance will not fall. The calculator shows the interest charged this month, and whether paying $50 or $100 more would start to bring the balance down.
Which balance should get the extra payment?
Extra money on the highest rate usually costs the least in interest. This page looks at one balance at a time. Run each debt, then put anything extra toward the highest rate.
Other calculators
This is an estimate for planning, not financial, tax, or lending advice. Nothing you type is saved. Ampluent forecasts the cash in a household day by day from paychecks, bills, and cards. See Ampluent