Debt payoff calculator

Explore one debt with a constant annual rate and fixed monthly payment. Inspect the schedule to see what the estimate includes.

Calculations run in this browser. Your entries are not saved or sent to Lessware.

Current balance (U.S. dollars)

Debt before the first month in the estimate. Enter U.S. dollars only.

Annual rate (%)

A constant annual rate. Enter 12 for 12%, or 0 for no interest.

Fixed monthly payment (U.S. dollars)

The same planned payment each month. It may differ from your lender minimum.

Maximum modeled months

Default 360. Choose 1 to 1,200 monthly periods.

First payment date (optional)

Labels the end of the first modeled month; does not change interest timing.

Assumes a constant rate, monthly interest at APR divided by 12, rounding to cents, and payments after interest. Excludes new borrowing, fees, promotional rates, daily accrual and prepayment penalties.

Enter amounts to calculate.

Read the guide and its sources