You'll be debt-free by
52 months · Avalanche Method
$2,798.05
$7,798.05
$5,000 total · $150/mo min payments
Highest rate first
Lowest balance first
vs minimum payments only
| Extra Monthly | Payoff Date | Debt-free in | Total Interest | Interest Saved |
|---|---|---|---|---|
| $0.00 | Nov 2030 | 52 mo | $2,798 | — |
| +$50.00 | May 2029 | 34 mo(−18) | $1,750 | $1,048 |
| +$100.00 | Sep 2028 | 26 mo(−26) | $1,286 | $1,512 |
| +$200.00 | Dec 2027 | 17 mo(−35) | $851 | $1,947 |
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Months to Payoff = −log(1 − (Balance × r) ÷ Payment) ÷ log(1 + r)Total interest is the sum of all interest portions across every payment until the balance reaches zero.
Total Interest = (Monthly Payment × Months) − Original BalanceThe Debt Payoff Calculator applies industry-standard financial equations used by lenders, accountants, and planners. All intermediate values are computed with floating-point precision and rounded only for display.
Result = f(principal, rate, period, …)Updated: July 2026
Paying off a high-interest credit card balance with fixed monthly payments.
→ Payoff: ~44 months, total interest: ~$2,900
Standard repayment on a federal student loan with fixed monthly payments.
→ Payoff: ~102 months (~8.5 years), total interest: ~$5,800
A homebuyer runs the Debt Payoff Calculator with two interest rates side by side to compare total interest paid over 30 years before choosing a lender.
Minimum payments (often 1–3% of balance) barely cover interest. A $8,000 balance at 22% with $160 minimum takes 20+ years and costs $10,000+ in interest.
Avalanche (highest rate first) saves the most interest. Snowball (smallest balance first) provides psychological wins. Both beat paying minimums on everything.
Use our free Debt Payoff Calculator for fast, accurate results in your browser. No signup or installation required — works on any device.