Debt Payoff Calculator
Discover how long it will take to become debt-free by calculating your estimated payoff date and total interest.
The Math Behind It
N = -log(1 - (r * balance / pmt)) / log(1 + r)This formula predicts the exact number of months needed to amortize debt given a fixed payment. It factors in how high-interest balances counteract small monthly payments.
Example
If you owe $10,000 at 18.9% interest and pay $250 a month, it will take you 62 months to be debt-free—and cost you roughly $5,400 in interest alone.
Frequently Asked Questions
If your monthly payment does not cover the monthly interest charge, your debt will grow indefinitely instead of shrinking.