Debt Payoff Calculator
Estimate payoff time, total interest, and how much faster you can get out of debt by adding extra money each month.
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Calculations update as you type.
Debt details
- Current balance
- $12,000
- Monthly payment
- $325.00Principal $125.10 ยท Interest $199.90
- Projected payoff time
- 4y 10m
- Total interest
- $6,781
- Total paid
- $18,781
If you pay extra
- Monthly payment with extra
- $425.00
- Projected payoff time
- 3y 3m
- Months saved
- 19
- Interest saved
- $2,431
- Total interest with extra
- $4,350
- Total paid with extra
- $16,350
Quick notes
This version models a single debt balance with a fixed interest rate and steady monthly payments.
Extra monthly payments go directly toward principal after that month's interest is covered.