Debt Payoff Calculator
Estimate how long one debt takes to repay with a fixed monthly payment and see the schedule.
Your results
- Months to repay
- 44
- Total interest
- $3,017.04
- Total repayment
- $13,017.04
Calculations run in your browser. Results are estimates where described below.
View full calculation schedule (44 rows)
| month | payment | principal | interest | balance |
|---|---|---|---|---|
| 1 | 300 | 175 | 125 | 9,825 |
| 2 | 300 | 177.19 | 122.81 | 9,647.81 |
| 3 | 300 | 179.4 | 120.6 | 9,468.41 |
| 4 | 300 | 181.64 | 118.36 | 9,286.77 |
| 5 | 300 | 183.92 | 116.08 | 9,102.85 |
| 6 | 300 | 186.21 | 113.79 | 8,916.64 |
| 7 | 300 | 188.54 | 111.46 | 8,728.09 |
| 8 | 300 | 190.9 | 109.1 | 8,537.19 |
| 9 | 300 | 193.29 | 106.71 | 8,343.91 |
| 10 | 300 | 195.7 | 104.3 | 8,148.21 |
| 11 | 300 | 198.15 | 101.85 | 7,950.06 |
| 12 | 300 | 200.62 | 99.38 | 7,749.44 |
| 13 | 300 | 203.13 | 96.87 | 7,546.3 |
| 14 | 300 | 205.67 | 94.33 | 7,340.63 |
| 15 | 300 | 208.24 | 91.76 | 7,132.39 |
| 16 | 300 | 210.85 | 89.15 | 6,921.55 |
| 17 | 300 | 213.48 | 86.52 | 6,708.07 |
| 18 | 300 | 216.15 | 83.85 | 6,491.92 |
| 19 | 300 | 218.85 | 81.15 | 6,273.07 |
| 20 | 300 | 221.59 | 78.41 | 6,051.48 |
| 21 | 300 | 224.36 | 75.64 | 5,827.12 |
| 22 | 300 | 227.16 | 72.84 | 5,599.96 |
| 23 | 300 | 230 | 70 | 5,369.96 |
| 24 | 300 | 232.88 | 67.12 | 5,137.09 |
| 25 | 300 | 235.79 | 64.21 | 4,901.3 |
| 26 | 300 | 238.73 | 61.27 | 4,662.57 |
| 27 | 300 | 241.72 | 58.28 | 4,420.85 |
| 28 | 300 | 244.74 | 55.26 | 4,176.11 |
| 29 | 300 | 247.8 | 52.2 | 3,928.31 |
| 30 | 300 | 250.9 | 49.1 | 3,677.41 |
| 31 | 300 | 254.03 | 45.97 | 3,423.38 |
| 32 | 300 | 257.21 | 42.79 | 3,166.17 |
| 33 | 300 | 260.42 | 39.58 | 2,905.75 |
| 34 | 300 | 263.68 | 36.32 | 2,642.07 |
| 35 | 300 | 266.97 | 33.03 | 2,375.1 |
| 36 | 300 | 270.31 | 29.69 | 2,104.79 |
| 37 | 300 | 273.69 | 26.31 | 1,831.1 |
| 38 | 300 | 277.11 | 22.89 | 1,553.99 |
| 39 | 300 | 280.58 | 19.42 | 1,273.41 |
| 40 | 300 | 284.08 | 15.92 | 989.33 |
| 41 | 300 | 287.63 | 12.37 | 701.69 |
| 42 | 300 | 291.23 | 8.77 | 410.47 |
| 43 | 300 | 294.87 | 5.13 | 115.6 |
| 44 | 117.04 | 115.6 | 1.44 | 0 |
How the calculation works
Monthly interest = balance × annual rate ÷ 12. Principal paid = payment − interest; final payment is capped at the balance plus interest.
Worked example
1,000 debt at 0% with payments of 300 is repaid in four months; the last payment is 100.
Assumptions and limits
One debt and a constant monthly payment; no fees or new charges. A payment that does not cover interest cannot repay the debt. Snowball and avalanche require multiple debts and are not represented here.