Debt Payoff Calculator

Reviewed by the CalculatorHub team, edited by James Graham. Method from CalculatorHub methodology. Last verified 2026-06-23.

The Debt Payoff Calculator computes debt payoff from the relation months = minus log(1 minus (monthly rate x balance) over payment) divided by log(1 plus monthly rate). It takes 3 inputs (current balance in USD, annual interest rate in %, monthly payment in USD) and returns the debt payoff. These calculators are for people working through everyday money questions: judging whether a price or an offer is worth taking, working out who owes what on a shared bill or cost, and comparing what one borrowing option costs against another, so the number feeds a concrete decision about spending, splitting or borrowing. Enter your values below and the result updates instantly, and you can share a permalink that pre-fills the exact calculation. Enter every amount in the same currency, and where a calculator uses a rate or a period, keep those on one consistent basis (monthly figures with monthly, annual with annual); be clear about whether each amount is before or after tax and fees, and round only the final figure rather than rounding at each step. For example, with current balance = 5000 USD, annual interest rate = 12 %, monthly payment = 200 USD, the debt payoff works out to 28.91181, and the worked example further down the page shows every step so you can follow the arithmetic and reproduce it by hand. The method is the standard form documented by CalculatorHub methodology, and the figure above each result carries the date it was last verified. The result is arithmetic on the amounts you type in, so what you actually pay or receive can differ once a seller's or lender's own rounding, fees, minimum charges and contract terms apply; use it as a working figure for your own planning and check it against the offer, statement or agreement in front of you.