Debt Payoff Calculator
Enter a balance, interest rate, and monthly payment to see your payoff timeline and total interest cost.
What does a fixed payment change?
Monthly estimate: interest = opening balance × APR ÷ 1,200, then payment is applied. The last payment is reduced to the balance plus that month's interest.
Assumes constant APR, end-of-month payments, no purchases, no fees, and no missed payments. Does not model daily interest, changing minimums, grace periods, or multiple APRs. Results rounded for display; the model uses unrounded intermediate values.
Example: $1,000, 0% APR, $100 monthly → 10 months, $0 interest. $2,400 at 24% with a $40 payment does not shrink under this model.
Build an affordable payment plan →Inputs are processed in this page, not saved or submitted by this calculator. Reloading clears your entries. Results are educational estimates.
Carrying multiple debts? Compare strategies in The Debt Snowball vs. Debt Avalanche.