Currency: USD
Enter all amounts in USD. Changing currency keeps numbers unchanged; no exchange rate is applied.
- Debt-free after
- 30 months
- Total interest
- $2,836.56
- Monthly debt budget
- $600.00
Debt balance over time
USDDetailed breakdown
| Month | Payments (USD) | Interest (USD) | Remaining balance (USD) |
|---|---|---|---|
| 1 | 600.00 | 191.67 | 14,591.67 |
| 2 | 600.00 | 185.43 | 14,177.10 |
| 3 | 600.00 | 179.09 | 13,756.19 |
| 4 | 600.00 | 172.65 | 13,328.84 |
| 5 | 600.00 | 166.10 | 12,894.95 |
| 6 | 600.00 | 159.45 | 12,454.40 |
| 7 | 600.00 | 152.69 | 12,007.08 |
| 8 | 600.00 | 145.81 | 11,552.90 |
| 9 | 600.00 | 138.83 | 11,091.72 |
| 10 | 600.00 | 131.73 | 10,623.45 |
| 11 | 600.00 | 124.51 | 10,147.96 |
| 12 | 600.00 | 117.17 | 9,665.13 |
| 13 | 600.00 | 109.71 | 9,174.84 |
| 14 | 600.00 | 102.13 | 8,676.97 |
| 15 | 600.00 | 94.43 | 8,171.40 |
| 16 | 600.00 | 86.60 | 7,658.00 |
| 17 | 600.00 | 78.64 | 7,136.64 |
| 18 | 600.00 | 71.37 | 6,608.00 |
| 19 | 600.00 | 66.08 | 6,074.08 |
| 20 | 600.00 | 60.74 | 5,534.82 |
| 21 | 600.00 | 55.35 | 4,990.17 |
| 22 | 600.00 | 49.90 | 4,440.07 |
| 23 | 600.00 | 44.40 | 3,884.47 |
| 24 | 600.00 | 38.84 | 3,323.32 |
| 25 | 600.00 | 33.23 | 2,756.55 |
| 26 | 600.00 | 27.57 | 2,184.12 |
| 27 | 600.00 | 21.84 | 1,605.96 |
| 28 | 600.00 | 16.06 | 1,022.02 |
| 29 | 600.00 | 10.22 | 432.24 |
| 30 | 436.56 | 4.32 | 0.00 |
How it works
Check what happens after clearing a card
After a card is cleared, compare maintaining the total budget with reducing it by that card’s payment. The freed money only accelerates remaining balances when you continue sending it toward debt.
Planning payments across multiple cards
Enter each card balance and rate separately so that the payoff schedule can allocate payments to the correct debt. Compare strategies using the same overall budget and review what happens when a cleared card's payment rolls over. A statement's changing minimum-payment rules may differ from the model. Adding purchases during repayment also changes the balance path shown by the estimate.
Multiple debt payoff: formula and assumptions
Pay minimums, allocate extra cash to the priority debt, and roll freed payments into the remaining debts.
Interest is applied monthly at APR/12 and minimum payments remain fixed until payoff. The engine limits schedules to 100 years.
Payment budgets, rollover & dated extras: formula and assumptions
Ending debt = opening debt + monthly interest − minimums − allocated extra payments.
All minimums are paid first. Extra payments then follow your selected priority. Annual and dated extras apply once and do not increase future monthly budgets.
Worked example
Reference example currency: USD. These fixed examples do not change with your calculator preferences.
Using the Multiple debt payoff example:
- Debts: balance, APR %, minimum monthly payment
- 5000, 22, 150 10000, 12, 250
- Extra monthly debt budget ($)
- 200
- Repayment strategy
- Highest rate first
Pay minimums, allocate extra cash to the priority debt, and roll freed payments into the remaining debts.
Example result
Debt-free after: 30 months
Total interest: $2,836.56
Monthly debt budget: $600.00
These are illustrative inputs. Change the values to explore a different scenario.
Formula references
References explain the underlying methods; they do not imply endorsement or individual professional review of Finflo.
Common questions
Does the schedule recalculate card minimums as balances fall?
No. Entered minimum payments remain fixed until payoff, unlike issuer formulas that may change the minimum each statement.
Does monthly APR divided by 12 match every card statement?
No. This schedule uses that monthly approximation; daily interest methods, fees, rate changes and new purchases can produce different statement amounts.
Prepared by Finflo. See our methodology and editorial policy. Read the relevant professional-advice limitations.