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Credit Card Payoff Calculator
How long a card balance takes to clear at a fixed monthly payment, or the payment to clear it by a date.
Result…
How it's calculated
Each month: interest = balance × APR ÷ 12; balance = balance + interest − payment Months ≈ −ln(1 − i × B ÷ P) ÷ ln(1 + i) Payment for n months = B × i ÷ (1 − (1 + i)^−n)
A card charges interest on the balance every month, so a small payment mostly pays interest. If the payment is not more than the monthly interest, the balance never falls. Paying a fixed amount above the minimum is the cheapest way out.
Your numbers, step by step
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