Debt & loans
Debt Payoff Calculator
Debt Payoff Calculator is free to use. Enter your figures below and the result updates as you type. Use it for planning; it is an estimate, not advice.
About the Debt Payoff Calculator
Months = −ln(1 − r × B ÷ P) ÷ ln(1 + r), where B is the balance, P the payment and r the monthly rate.
Payments must be larger than the monthly interest, or the debt never falls.
How to use the Debt Payoff Calculator
- Enter each figure in the boxes above, using the same currency and time units.
- The result updates as you type. Press Calculate to refresh it at any time.
- Change one figure at a time to see how much it moves the result.
Frequently asked questions
What is the Debt Payoff Calculator used for?
Payments must be larger than the monthly interest, or the debt never falls.
How accurate is the Debt Payoff Calculator?
It applies standard formulas to the figures you enter. Real results depend on actual rates, fees, taxes and timing, so treat the output as an estimate and confirm with your bank or adviser.
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