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Debt payoff calculator

This computes the number of months and total interest paid on a debt (e.g. for a credit card) if you make a fixed payment each month. If you'd rather specify a fixed number of months and compute the required monthly payments, try our fixed time payoff calculator.

Initial balance [$]

APR [%]

Monthly payment [$]

Total amount paid [$]

6522.10

Total interest paid [$]

1522.10

Months to pay off

33

Table of monthly balances

MonthBalance [$]
05000.00
14883.33
24764.72
34644.13
44521.54
54396.90
64270.18
74141.35
84010.37
93877.21
103741.83
113604.19
123464.26
133322.00
143177.37
153030.32
162880.83
172728.84
182574.32
192417.23
202257.52
212095.14
221930.06
231762.23
241591.60
251418.12
261241.76
271062.46
28880.16
29694.83
30506.41
31314.85
32120.10
330.00

Balance over time

Description

This calculator computes the payments toward a debt. Given an initial balance / debt and a fixed monthly payment amount, this calculator computes the number of months and total interest paid. This is often used to pay off credit card debt.