Calculated result
Enter values and select Calculate.
Debt payoff method
Each month: interest = current balance × APR ÷ 12; principal paid = monthly payment − interest; next balance = current balance − principal paid.
The calculator repeats that fixed monthly model until the final payment pays the remaining balance and accrued monthly interest.
Payment boundary
At a positive APR, the payment must exceed the first month's interest or the balance cannot fall under this model. The schedule supports up to 1,200 monthly payments and makes no minimum-payment changes.
Limits and interpretation
This models one balance, fixed APR, and fixed scheduled plus extra payment. It does not model fees, promotional rates, variable rates, new purchases, missed payments, daily compounding, snowball or avalanche prioritization, or lender-specific rounding.
This educational estimate is not individualized debt, credit, legal, tax, or financial advice.