Money · FREE CALCULATOR
Debt Payoff Calculator
Estimate how long a fixed monthly payment could take to repay a balance. Change the sample numbers to get an instant estimate tailored to your situation.
Your inputs
Adjust any value to update the results.
Calculated results
Based on your current inputs
Calculating…
VISUAL BREAKDOWN
Calculation chart
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How this calculator works
Enter the balance, annual interest rate and fixed monthly payment. Assumes a constant rate and no new borrowing.
Formula
Each month: interest = current balance × APR ÷ 12; new balance = old balance + interest − payment.
Before you use the result
Calculator outputs are estimates based on the numbers you provide. Replace the examples with measurements, costs, rates, or product information appropriate to your situation.
Keep in mind
A payment that does not exceed monthly interest will never repay the balance. Real credit cards use daily balances and fees.