Formula and calculation method
Months = −ln(1 − P × i / M) / ln(1 + i). The final payment is reduced to the remaining balance plus interest.
Rates and fees are entered by you. This is a fixed-rate estimate; a lender may use different day counts, compounding, fees or rounding. Amounts use the selected currency without exchange-rate conversion.
How to use credit card payoff calculator
- Set Principal / amount. The example below uses 100000.
- Set Annual interest rate (%). The example below uses 6.
- Set Monthly payment. The example below uses 1500.
- Select Calculate to update the result. Reset restores the illustrated inputs. Copy, print or download your own result if you need a record.
Worked example
Example inputs
- Principal / amount
- 100000
- Annual interest rate (%)
- 6
- Monthly payment
- 1500
- Monthly payment
- 1500
- Total interest
- 21,944.1576036
- Total paid
- 121,944.1576036
- Payments
- 82
Factors affecting your result
Rates and fees are entered by you. This is a fixed-rate estimate; a lender may use different day counts, compounding, fees or rounding. Amounts use the selected currency without exchange-rate conversion.
Changing principal / amount changes the scenario being evaluated. Adjust one input at a time when comparing results, keep a copy of the assumptions, and compare values using the same unit and period. A precise arithmetic result does not make an uncertain assumption precise.
Frequently asked questions
How does the credit card payoff calculator work?
Months = −ln(1 − P × i / M) / ln(1 + i). The final payment is reduced to the remaining balance plus interest.
What inputs does Credit Card Payoff Calculator need?
Enter principal / amount, annual interest rate (%), monthly payment. Read the unit labels; percentages are entered as ordinary percentages, not decimal fractions.
How should I interpret the credit card payoff calculator result?
Rates and fees are entered by you. This is a fixed-rate estimate; a lender may use different day counts, compounding, fees or rounding. Amounts use the selected currency without exchange-rate conversion.
Are my credit card payoff calculator inputs uploaded?
No. The calculation runs in this browser. Favorites, recent tool names, theme and formatting preferences may be saved locally, but calculation inputs are not sent to a calculation server or stored by this website. Shared links do not include entered values.
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