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Calculators / Home & loans

Debt payoff

Point a little extra money at a balance and watch the payoff date move. Nothing you type leaves this page.

$

Enter a balance between $1 and $5,000,000.

%

Credit cards commonly run 18–28% APR.

Enter a rate between 0 and 60%.

$

Enter a payment between $1 and $100,000.

$

Anything above the regular payment goes straight to principal.

Enter $0 to $100,000.

Debt-free in

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Interest paid

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Interest saved

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Paid off sooner by

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Balance over time — with and without the extra payment

Balance by year (with extra payment)

How this is calculated

Each month the balance grows by one month of interest (APR ÷ 12), then shrinks by your payment. The simulation runs month by month until the balance hits zero — once with your regular payment, once with the extra added — and compares the two.

new balance = balance × (1 + APR/12) − payment

Why small extras work so hard

Every extra dollar goes entirely to principal, and principal you remove today stops accruing interest for every remaining month. That's why $100 extra on a 22% card often saves multiples of itself.

If the payoff time says "never"

A payment smaller than the first month's interest means the balance grows instead of shrinking. The calculator will warn you and show the minimum payment that makes progress.

Notes

Assumes a fixed APR, no new charges, and no fees. Cards compound daily in practice; monthly compounding is a close, slightly optimistic approximation.

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