Time to Debt Payoff Calculator
Determine how many months are needed to clear a debt with a fixed monthly payment and interest rate.
Interest rates may vary; consult your lender for exact schedules.
Examples
- $5,000 at 7% with $150/month ⇒ 37.2 months
- $10,000 at 5% with $200/month ⇒ 56.2 months
FAQ
What if the interest rate is 0%?
The payoff time is simply debt divided by payment.
Can I use biweekly payments?
Convert them to a monthly equivalent before entering.
Are fees included?
No, additional fees or charges are not considered.
Additional Information
- Assumes a fixed interest rate and constant monthly payment.
- Result is the number of months required to reach a zero balance.