Debt Payoff Calculator

See how long it takes to pay off one debt with the same payment each month, and the total interest.

Debt Payoff Calculator helps you see how long it takes to pay off one debt with the same payment each month, and the total interest. Enter debt balance, interest rate (apr), and monthly payment, review the breakdown, and use the guidance below to understand what the number means — and what it does not. What the Debt Payoff calculator does Debt Payoff Calculator is built for money decisions — loans, savings, payments, and taxes. See how long it takes to pay off one debt with the same payment each month, and the total interest. You enter debt balance, interest rate (apr), and monthly payment, then Simple Calculators computes the result instantly. Rates, fees, and tax rules vary by lender and country, so treat results as planning numbers, not a contract. How the math works Enter the Debt balance, Interest rate (APR, the yearly rate) and your Monthly payment. Each month, interest = balance × APR ÷ 12 is added, and your payment is taken off; this repeats until the balance reaches zero. The last payment is smaller if only a little is left. This handles one debt at a time and assumes the rate and payment stay the same. The formula: Each month: interest = balance × APR ÷ 12; new balance = …