Debt Payoff Calculator
Your debt-free date — and how extra payments speed it up.
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Payoff date—
Total interest$0
Total you will pay$0
With extra payment—
Assumes a fixed APR, no new charges, and no fees. Paying only the minimum on high-APR debt can take decades. These estimates are educational and not personalized financial advice.
How this is calculated
We simulate month by month: each month's interest (balance × APR ÷ 12) is added, then your payment is subtracted, repeating until the balance hits zero.
Assumptions: A fixed APR, no new charges, no fees, and one payment per month.
Limitations: Variable rates, new spending or fees change the payoff date. If your payment does not cover the monthly interest, the debt never shrinks — the calculator tells you so.
A quick note: this calculator is for education only and isn't financial advice.