Debt Payoff Calculator

Your details

Fixed payment mode finds the payoff time; target-date mode reverse-solves the payment.
%
An amount added to every payment, on top of the monthly payment above.
A single lump sum (e.g. a tax refund) applied in the month you choose.
Which month the one-time payment lands in (month 1 is the first payment).
Currency
Time to pay off1-3 years
33months
Total interest paid$1,521.02
Total amount paid$6,521.02
Principal (the balance)$5,000.00

You will be debt-free in about 2 yr 9 mo and pay 1,521 in interest.

  • Interest adds roughly 30% on top of the balance you borrowed.
  • Paying even a little extra each month shortens the timeline and cuts interest, because interest compounds on the remaining balance.
  • Higher-APR debts cost more per dollar, so target those first if you are juggling several (the avalanche method).

Next stepAdd an extra monthly payment or a one-time lump and watch how fast the payoff time and total interest drop.

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