Debt Payoff Calculator
Estimates months to pay off a remaining balance with a fixed monthly payment. Enter current balance, an annual interest rate percent (APR), and monthly payment. Interest is added monthly on the remaining balance. Results are estimates, not financial advice.
Debt payoff calculator
Remaining-balance amortization. Interest compounds monthly.
Results are estimates only, not financial, tax, or legal advice. Tallymill is not a lender and does not recommend products.
How to use
- Enter current balance, an annual interest rate percent (APR), and a monthly payment.
- Read months to pay off, total interest, and total paid. The last payment may be smaller than the regular payment.
- Money is rounded to the nearest cent (half-up). The monthly loop uses full precision.
Results
Enter current balance, annual interest rate percent, and monthly payment to see months to pay off, total interest, and total paid.
Runs in your browser. Nothing is uploaded.
Frequently asked questions
How does this debt payoff calculator work?
Enter a current remaining balance, an annual interest rate percent (APR), and a monthly payment. Interest is added once per month on the remaining balance. Each payment covers that month’s interest first; the rest reduces principal. The page shows months to pay off, total interest, and total paid. Math runs in your browser. Nothing is stored.
What happens if the monthly payment is too small?
If the monthly payment is less than or equal to the interest that accrues in the first month, the balance never goes down. The calculator stops and shows that the monthly payment is too small to cover the interest. It does not invent a payoff date.
Does a 0% APR work?
Yes. At 0% APR there is no interest. Months to pay off is the balance divided by the monthly payment, rounded up. The last payment may be smaller than the regular payment so the total paid equals the original balance.
Is this financial, tax, or legal advice?
No. Results are estimates only. This is not financial advice, tax advice, or legal advice. Tallymill is not a lender and does not recommend products. Confirm figures with your records or a qualified professional.
Do I need an account? Do you store the numbers I enter?
No. The math runs in your browser. There is no signup, and Tallymill does not save your balance, rate, or payment. Refreshing the page clears the form.