Find out when a debt will be paid off with a fixed monthly payment, and how much interest you will pay along the way.
Even a small extra payment can move your debt-free date months earlier, because it cuts the balance the interest is charged on. Use the extra payment box to compare. The estimate assumes the rate stays the same, interest compounds monthly (APR / 12) and you add no new charges.
Each month interest (APR / 12) is added and your payment is subtracted, until the balance reaches zero. The number of months is added to the current date.
Your payment is smaller than the interest charged each month, so the balance would keep growing.
It is an estimate. Real statements depend on billing dates, daily interest and fees.
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