Debt Payoff Calculator
Calculate how long to pay off debt and total interest paid.
Updated April 2026Debt Details
Estimated minimum payment: $128.75/month
Payoff Timeline
Payoff Summary
Debt-free by April 2030
Payoff time: 4y 0m (48 payments)
Tip: Increasing your monthly payment by just $50.00 could save you hundreds in interest.
How It Works
Enter Your Balance
Input the current balance on your debt (credit card, personal loan, etc.).
Set Rate & Payment
Enter the APR and your intended monthly payment amount.
See Your Payoff
View payoff date, total interest paid, and how extra payments accelerate freedom.
How Debt Payoff Calculations Work
Each month, interest accrues on your remaining balance (balance × monthly rate). Your payment first covers interest, then reduces principal. Paying more than the minimum dramatically cuts total interest — even $50/month extra on a $5,000 card at 19% saves hundreds in interest.
Avalanche Method
Pay minimums on all debts, put extra money toward the highest-APR debt first. Mathematically optimal — saves the most interest over time.
Snowball Method
Pay minimums on all debts, put extra toward the smallest balance first. Builds momentum with quick wins — often better for motivation.
Balance Transfers
0% intro APR cards can pause interest for 12–21 months. Combined with aggressive payments, they're one of the fastest ways to eliminate credit card debt.
Related guides
Student Loan Repayment Plans Compared
Standard, Extended, Graduated, and IDR plans — total cost side-by-side.
What Is APR on a Car Loan?
APR vs interest rate, good APR by credit score, dealer vs bank financing.
The 50/30/20 Budget Rule Explained
How to split take-home pay into needs, wants, and savings — and when it breaks down.
Disclaimer: For informational purposes only. Not tax, legal, or financial advice.