calcy treasure chest of featuresLove the calculators but not the ads?

Take a sneak peek at the Ad-Free Design being enjoyed by hundreds of members for less than 25¢ a week. Full details and a bonus!

Calculator Preferences
Debt Pay Off Calculator Sign
Debt Pay Off Calculator

This calculator will calculate the monthly payment amount required to pay off a given debt within the length of time you specify. You can either specify a goal payoff date, or a number of months. Plus, the calculator will also calculate how much interest you will save (earn!) by paying the debt off early. The results include a payoff comparison chart, a text summary, and a bar graph showing the interest cost difference.

Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Balance:Balance owed:Current balance owed:Current principal balance owed:

Current principal balance owed:

Enter the amount you still owe on the debt, but without the dollar sign or any commas. Due to future interest charges that may or may not apply, the amount you owe cannot be arrived at by simply multiplying your payment amount by the number of payments remaining. You may need to call your lender and ask what the current payoff amount is.

Rate %:Interest rate %:Annual interest rate percent:Annual interest rate percentage:

Annual interest rate percentage:

Enter the annual interest rate percentage you are being charged for the debt, but without the percent sign (for .10 or 10%, enter 10).

Monthly pmt:Monthly payment:Current monthly payment amount:Current monthly payment amount:

Current monthly payment amount:

Enter the amount of your current monthly payment. Enter as a dollar amount, but without the dollar sign and any commas.

Pay off:Pay off by:Payoff goal month and year:Payoff goal month and year:

Payoff goal month and year:

Select the month and year you would like to pay the debt off by. Once a future date is selected, the number of payments field on the next line will automatically be populated with the number of months between now and your selected month/year.

Or # pmts:Or # payments:Or, number of payments to pay off:Or, number of payments to pay off debt:

Or, number of payments to pay off debt:

If you want to enter the number of months instead of selecting the month and year, simply enter the number of months in this field.

Debt Payoff Comparison
PmtPmtPaymentMonthly payment:

Monthly payment row:

This row compares the current monthly payment amount with the pay off goal payment amount.

# pmts# pmts# of paymentsNumber of payments:

Number of payments row:

This row compares the number of payments remaining for the current payment amount and for the pay off goal payment amount.

CostCostInterest costTotal interest cost:

Total interest cost row:

This row compares the total interest cost for the current payment amount and for the pay off goal payment amount.

Mon/YrMon/YrPayoff month/yearPayoff month/year:

Payoff month/year row:

This row compares the month and year this debt will be paid off for the current payment amount and for the pay off goal payment amount.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated


Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.



Add or remove this page to/from my favorites.