Build a practical debt elimination schedule with cost visibility.
Debt repayment planning works best with a timeline and payment strategy.
This calculator estimates when debt can be eliminated under fixed payments.
It can be used for personal loans, cards, and mixed debt estimates.
Higher payments usually deliver outsized interest savings.
Input combined amount owed.
Use weighted average APR if combining debts.
Choose a realistic recurring amount.
Review estimated months and interest.
Test incremental payment increases.
n = -ln(1 - rP/PMT) / ln(1+r)
Solves estimated number of periods to retire debt at constant payment and rate.
Compute n using monthly amortization relationship.
Debt can be cleared in roughly 45 months.
Increase PMT and recalculate timeline.
Payoff date moves earlier and total interest declines.
Reduce r and rerun.
Rate reduction can materially shorten payoff period.