Debt Payoff Calculator
See how long it will take to pay off a balance and how much interest you'll pay.
Enter your numbers and select Calculate to see results.
About This Calculator
This debt payoff calculator estimates how many months it will take to pay off a balance — such as a credit card or personal loan — given a fixed monthly payment, and how much total interest you'll pay along the way. It also shows how much faster you could be debt-free by adding extra to your monthly payment.
How This Is Calculated
n = −log(1 − (B·r)/M) / log(1 + r)
- n
- — Number of months to pay off the balance
- B
- — Current balance
- r
- — Monthly interest rate (APR ÷ 12)
- M
- — Fixed monthly payment
A $6,000 balance at 22% APR with a $250 monthly payment takes about 28 months to pay off and costs roughly $974 in interest.
Assumptions
- Assumes a fixed monthly payment and a fixed interest rate for the entire payoff period.
- Does not account for new charges added to the balance after the start date.
- Interest accrues monthly on the remaining balance.
Frequently Asked Questions
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Last updated January 15, 2026. Results are estimates for informational purposes only — read our disclaimer.