Debt Payoff Calculator
Enter up to five balances with APR and minimum payment. Choose avalanche or snowball and an optional extra. Read months, interest, and total paid. Informational, not lending advice.
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How to run a debt payoff sketch
- Enter each debt balance, APR, and minimum payment you want to include. Leave unused balances at 0.
- Add an optional extra payment that targets the focus debt each month.
- Choose avalanche (highest APR first) or snowball (lowest balance first).
- Read months to pay off, total interest, total paid, and the strategy label.
- Treat the schedule as arithmetic on this device, not a lender quote or credit advice.
Multi-debt payoff sketch
Monthly simulation with avalanche or snowball focus
| Avalanche | Extra targets highest APR first |
|---|---|
| Snowball | Extra targets lowest balance first |
| Minimums | Stay on every open debt each month |
| Freed minimums | Roll into the focus debt after a balance clears |
| Cap | Simulation stops with an error after 720 months |
| Advice | Informational. Not lending advice. |
What this debt payoff page simulates
Each month the page adds interest to open balances, pays every minimum, and sends extra plus any freed minimums to one focus debt. Avalanche ranks by APR. Snowball ranks by balance. Up to five debts are supported through balance1 to balance5 fields.
How the months are counted
Monthly interest on each debt is balance times (APR / 100 / 12). Payments reduce balances after interest. The loop continues until every balance is cleared or 720 months pass. Totals sum interest and cash paid across the run.
Related money pages
Comparing an old blended payment path to one new loan is on debt consolidation. A single revolving balance payoff sits on credit card payoff. A standard amortizing payment is on loan.
Use cases
Compare avalanche versus snowball on the same debts and extra. See how much faster an extra $100 clears the stack. Not a credit counseling plan or lender offer.
Worked example
Debt 1 is $5,000 at 22% APR with a $150 minimum. Debt 2 is $3,000 at 12% APR with a $100 minimum. Extra is $100 under avalanche. The focus debt starts as Debt 1. The page reports months, interest, and total paid when both balances clear.
Limits
No fees, penalty APR, new charges, or credit score effects. Payments that never cover interest can hit the 720-month cap. Informational, not lending advice. See the disclaimer.