Debt payoff calculator

Explore repayment time and interest with a fixed monthly payment.

Loading calculator…

FREE · NO ACCOUNT NEEDEDILLUSTRATIVE · NO GUARANTEED OUTCOMES

Change the assumptions

Debt balance ($)Annual interest rate (%)Fixed monthly payment ($)

Try hypothetical amounts. Inputs stay in this page until you choose to save. Never enter account numbers or personal documents.

ILLUSTRATIVE REPAYMENT TIME

40 months

Total interest$3,689

Total paid$13,689

━ Remaining balance

Understand these numbers

Interest is charged monthly at annual rate ÷ 12, then the fixed payment is applied. The final payment is capped at the balance plus interest. No new borrowing, fees or rate changes are included. Actual credit-card interest can use daily balances.

Year	Balance
0.00	$10,000
1.00	$7,586
2.00	$4,642
3.00	$1,053
3.33	$0

Want to understand the concepts behind these numbers?

Financial Literacy 101 →Find a learning topic with Money Checkup →

For educational purposes only. Not financial, investment, tax or legal advice. Hypothetical results depend on the assumptions entered and are not recommendations, approvals, guarantees or predictions. Results exclude circumstances and costs not entered.