Debt calculator
Debt Payoff Calculator
Estimate payoff time, total interest, and how much faster an extra monthly payment could move your plan.
How this calculator works
The calculator compounds interest monthly using the APR you enter, then subtracts your monthly payment until the balance reaches zero.
Formula
Monthly interest = current balance x APR / 12. New balance = current balance + monthly interest - monthly payment.
Snowball vs. avalanche
This page estimates one debt at a time. A future version can compare multiple debts and show snowball and avalanche payoff orders.
Important note
This is an educational estimate. Actual payoff timing can change because of fees, promotional APRs, statement timing, and changes to your payment behavior.