Scenario 1
Personal loan payoff
$15,000 at 8% APR, $300/month → 63 months, $3,900 in interest total.
Trusted by freelancers and business owners
Debt Payoff Calculator
Know exactly when you'll be debt-free — and how much extra payments save you.
Adjust your inputs
Results update instantly as you type or drag.
1 – 1,000,000
$
0.1 – 50
%
1 – 100,000
$
Quick insights
Total interest paid
$3,600
Total paid
$18,600
Quick answer
How do I calculate my debt payoff date?
Months = −ln(1 − Balance×rate/Payment) ÷ ln(1+rate), where rate = APR/12/100. This works for any fixed-rate debt.
How it works
From inputs to result in four steps
A quick walkthrough of what this calculator does behind the scenes.
- 1
Enter your total debt balance.
- 2
Enter the annual interest rate.
- 3
Enter your planned monthly payment.
- 4
See months to payoff and total interest.
Formula
The math behind the number
No black box — here's exactly how the result is computed.
Formula
r = Annual rate ÷ 12 ÷ 100
Months = −ln(1 − Balance×r / Payment) ÷ ln(1+r)
Total interest = Payment × Months − BalanceExamples
Real-world scenarios
See how the numbers play out for typical use cases.
Scenario 2
Extra $100/month saves
$15,000 at 8% APR, $400/month → 44 months, $2,600 in interest — saves 19 months and $1,300.
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