About the Debt Payoff Calculator
How long until you are debt-free at your current payment, total interest, and the payment needed to be debt-free by a target date.
Also known as: debt free calculator, pay off debt, debt repayment calculator, when will i be debt free.
How to use this calculator
- Enter total debt, interest rate, monthly payment, target payoff (months, optional).
- The result updates instantly as you type — press Calculate (or Enter) at any time.
- Review the breakdown shown under the main result.
- Use Copy result or Share to save the answer or send a link with your inputs.
Formula
Months = −ln(1 − rB/P) / ln(1 + r)
Worked example
Using the values pre-filled in the calculator above:
- Total debt = 12,000
- Interest rate = 19 %
- Monthly payment = 400
- Target payoff (months, optional) = 24
the calculator returns:
- Debt-free in: 3 yr 6 mo
- Total interest: 4,407.08
- Payment to be debt-free in 24 months: 604.9