Months to pay off
n = −log(1 − r · balance ÷ payment) ÷ log(1 + r)
Where r is the monthly rate (APR ÷ 12). Critically, your payment must exceed the monthly interest (balance × r) or the balance never falls. Paying even a little above the minimum shortens the payoff dramatically and slashes total interest.
Getting out of debt faster
High-interest debt like credit cards can take years to clear when payments are close to the interest charge. This calculator simulates your balance month by month to show the true payoff time and total interest — and how much a modest extra payment saves.
The single most powerful lever is paying more than the minimum: because interest compounds on the remaining balance, every extra dollar of principal pays off repeatedly.