Free calculator

Debt Payoff Calculator

Free Debt Payoff Calculator with instant browser-based results and a clear calculation breakdown.

Calculate how long it will take to pay off your debt and how much interest you'll pay based on your monthly payment amount.

Total Debt Amount ($)

Enter the total amount you owe

Annual Interest Rate (%)

Your APR (Annual Percentage Rate)

Payment Strategy

Monthly Payment ($)

Amount you plan to pay each month

Minimum Payment Percentage (%)

Percentage of balance (typically 2-3%)

Minimum Payment Floor ($)

Minimum dollar amount if percentage is too low

Payoff Summary

Time to Pay Off:

Total Interest Paid:

Total Amount Paid:

Number of Payments:

How This Works:

Want to understand the calculation?

See examples, formula notes and limitations.