Financial

Debt Payoff Calculator

Required monthly payment to clear debt in a chosen time.

Total debt

APR (%)

Payoff months

Required monthly payment

$480.49

Total interest$2,297.79

Total paid$17,297.79

Method

How it works

M = P · r / (1 − (1+r)⁻ⁿ)

Solves the amortization formula for the fixed monthly payment needed to clear a debt in a chosen number of months.

FAQ

Should I consolidate?

Consolidation can lower your blended APR. Watch for fees and don't extend the term so long that total interest goes up.

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