Debt Repayment Calculator
Enter your debt balance, interest rate, and monthly payment to see payoff date, total interest paid, and an amortization schedule. Shows how much time and money you save by paying extra each month.
How it works
This debt repayment calculator runs entirely in your browser — no data is sent to any server. Simply fill in the fields above and the result updates instantly. You can copy the output with the copy button provided.
Frequently Asked Questions
What is the debt avalanche vs. debt snowball method?
Debt avalanche: pay minimums on all debts, put extra money toward the highest-interest debt first. Saves the most interest. Debt snowball: pay off smallest balances first for quick wins and motivation. Both work — the best method is the one you'll stick to.
How much does making extra payments save?
Even small extra payments dramatically reduce total interest and payoff time. On a $10,000 credit card at 20% APR with $300/month minimum, you'd pay for 6 years. Adding just $100/month extra cuts it to 3.5 years and saves ~$2,000 in interest.
What is an amortization schedule?
An amortization schedule shows every payment broken down into principal and interest. Early payments are mostly interest; later payments are mostly principal. This calculator generates a full amortization table so you can see your progress month by month.
Should I pay off debt or invest?
If your debt interest rate is higher than your expected investment return, pay off debt first. Credit card debt at 20%+ APR should always be paid off before investing. Mortgage or student loan debt at 4–6% is a toss-up — many people do both simultaneously.
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