Debt Payoff Calculator
Compare snowball and avalanche strategies across multiple debts.
%
Debt-free in
3 yr 5 mo
paying $500.00/month
Total interest
$5,076.99
Total paid
$20,076.99
With +$100.00/mo
32 months
Interest saved
$1,136.19
ShowHide the working
- 1At $500.00/month it takes 40.2 months
- 2Adding $100.00/month saves $1,136.19 and 9 months
Formula
months = −ln(1 − rB ÷ P) ÷ ln(1 + r)How it works
How long a debt takes to clear at a fixed monthly payment, and how much an extra amount each month saves in time and interest.
Example
$15,000 at 18% paying $500/month clears in about 3 years 4 months; an extra $100/month saves roughly 8 months.
More in Finance & Loans
- Loan Calculator
- Mortgage Calculator
- Compound Interest Calculator
- Simple Interest Calculator
- Car Loan Calculator
- Credit Card Payoff Calculator
- Savings Goal Calculator
- Retirement Calculator
- ROI Calculator
- CAGR Calculator
- Amortization Schedule
- Debt Payoff Calculator
- Down Payment Calculator
- NPV Calculator
- Currency Converter
About the Debt Payoff Calculator
Compare snowball and avalanche strategies across multiple debts. It sits in the Finance & Loans section of NWS Calc, a free collection of calculators that run entirely in your browser. There is no signup, no paywall and no tracking — open the page, enter your numbers, get an answer.
Frequently asked questions
- Is the Debt Payoff Calculator free to use?
- Yes. Every calculator on NWS Calc is completely free, with no signup, no usage limits and no ads.
- Does my data leave my device?
- No. The Debt Payoff Calculator runs entirely in your browser using JavaScript. Nothing you type is uploaded, logged or stored on a server.
- Can I use the Debt Payoff Calculator on my phone?
- Yes. The page is fully responsive and works in any modern mobile or desktop browser — there is nothing to install.
- What else is in Finance & Loans?
- Loans, mortgages, interest, savings and investment returns. You can browse the full Finance & Loans category for related calculators.