Debt Payoff Calculator
Find out exactly when you'll be debt-free and how much interest you can save by increasing your monthly payments.
Input Data
Minimum payment to cover interest: $158
Results
Time to Payoff
4y 0m
Total Interest
$4,400
Debt Free Date
January 2030
- Principal
- Interest
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How to Use This Calculator
Enter your current debt balance, the annual interest rate (APR), and how much you plan to pay each month. The calculator will instantly show you how long it will take to become debt-free and the total interest cost.
Strategies to Pay Off Debt Faster
- Debt Snowball: Pay minimums on all debts, then throw extra money at the smallest balance first.
- Debt Avalanche: Focus extra payments on the debt with the highest interest rate (mathematically saves the most money).
- Consolidation: Consider a balance transfer card or personal loan if your credit score allows, to lower the interest rate.