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FinanceFormula-based · Runs in your browser

Credit Card Payoff Calculator

Find payoff time from a payment or the payment needed for a chosen payoff period.

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Inputs

Enter the values you know. Optional fields may be left empty.

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Required
$
Required
%
Required
Required
$

Result

Updates as valid inputs change.

Calculated locally
Payoff time
—
Monthly payment
—
Total interest
—
Total paid
—

Saved locally, explained clearly

Drafts, calculations, scenarios, and workflow progress stay in this browser unless you export them.

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Calculation steps

Follow what happened from the selected formula to the displayed answer.

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  1. 1

    Formula selected

    The calculator uses the following formula or method.

    Payment = balance × r ÷ [1 − (1 + r)⁻ⁿ]

    Payment mode simulates the balance month by month. Interest is compounded monthly.

  2. 2

    Values entered

    Your values are placed into the calculation.

    Enter values to see what is used in this step.

  3. 3

    Result calculated

    The formula or method produces the following result values.

    Results will appear after a successful calculation.

  4. 4

    Answer formatted

    Displayed values are rounded and formatted using each output’s configured precision.

Scenario comparison

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Recent calculations

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Data and privacy

How it works

Payment mode simulates each month until the balance reaches zero. Months mode solves for a fixed payment and then verifies it with the same schedule.

Input query strings and outputs

Use an input name in this page’s URL as ?name=value, and join additional inputs with &. Portable shared links may instead use the compact ?ac= state parameter.

Input query strings

5
  • ?balance= Card balance

    Money · Required · Default: 5,000

  • ?apr= APR

    Percentage · Required · Default: 18.9

  • ?mode= Calculate from

    Choice · Required · Default: payment · Accepted values: payment, months

  • ?monthlyPayment= Monthly payment

    Money · Required · Default: 200 · Used when mode = payment

  • ?payoffMonths= Payoff months

    Number · Required · Default: 24 · Used when mode = months

Outputs

4
  • payoffTime Payoff time

    Text · Primary output

  • monthlyPaymentResult Monthly payment

    Currency

  • totalInterest Total interest

    Currency

  • totalPaid Total paid

    Currency

Limits

New purchases, fees, changing APR, and lender minimum-payment rules are not included.

Sources
  • No external reference is listed for this calculator. Its formula and variable definitions are shown above.
Limitations
  • Payment mode simulates the balance month by month. Interest is compounded monthly.
  • Estimates use the rates, timing, and assumptions entered. Fees, taxes, lender rules, and future changes are included only where explicitly shown.

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