Debt payoff calculator
Find out how long a debt takes to clear and what the interest costs.
Time to pay off
0 months
This runs entirely in your browser. Nothing you enter is uploaded.
How to use this calculator
- Enter the balance and the annual rate (APR).
- Enter what you can pay each month.
- Click Calculate to see the payoff time and total interest.
Snowball vs avalanche
With more than one debt, two popular strategies decide which to attack first. The avalanche method puts extra money on the highest rate first, which costs the least interest overall. The snowball method clears the smallest balance first for a quick win and motivation. This tool models one debt at a time, so run it for each balance to compare.
A real example
A 5,000 dollar card at about 20 percent APR paid at 200 a month takes a few years and adds meaningful interest. Raising the payment even slightly shortens the time and cuts the interest sharply, because less balance sits accruing each month.
Common questions
Why does it say the debt never clears?
If the monthly payment is less than the first month's interest, the balance grows instead of shrinking. Increase the payment above that interest amount.
Does it assume no new spending?
Yes. It assumes you stop adding to the balance and make the same payment each month.