{
  "slug": "debt-payoff",
  "title": "Debt Payoff Calculator",
  "heading": "Debt Payoff Calculator",
  "category": "financial",
  "url": "https://www.revenuelab.fyi/toolbox/debt-payoff",
  "summary": "How long until a balance is gone, and what interest costs you.",
  "description": "Enter a balance, rate, and what you can pay each month. If the payment barely covers interest the tool will tell you — that is the trap that keeps balances alive for a decade.",
  "formula": "Months = ln(Payment ÷ (Payment − Balance × r)) ÷ ln(1 + r), where r is the monthly rate.",
  "dateModified": "2026-09-30",
  "run_url": "https://www.revenuelab.fyi/api/public/calc?tool=debt-payoff",
  "inputs": [
    {
      "id": "balance",
      "label": "Balance",
      "kind": "number",
      "hint": null,
      "default": 12000,
      "unit": "$",
      "min": 0,
      "max": null
    },
    {
      "id": "rate",
      "label": "APR",
      "kind": "number",
      "hint": null,
      "default": 21.5,
      "unit": "%",
      "min": 0,
      "max": null
    },
    {
      "id": "payment",
      "label": "Monthly payment",
      "kind": "number",
      "hint": null,
      "default": 400,
      "unit": "$",
      "min": 1,
      "max": null
    }
  ],
  "outputs": [
    {
      "id": "months",
      "label": "Months to payoff",
      "format": "duration",
      "hint": null,
      "primary": true
    },
    {
      "id": "interest",
      "label": "Total interest",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "totalPaid",
      "label": "Total paid",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "status",
      "label": "Status",
      "format": "raw",
      "hint": null,
      "primary": false
    }
  ],
  "worked_example": {
    "inputs": [
      "Balance: 12000 $",
      "APR: 21.5 %",
      "Monthly payment: 400 $"
    ],
    "outputs": [
      "Months to payoff: 44",
      "Total interest: $5,369.22",
      "Total paid: $17,369.22",
      "Status: On track"
    ]
  },
  "how_to": {
    "title": "How to use this",
    "steps": [
      "Enter balance ($).",
      "Enter apr (%).",
      "Enter monthly payment ($).",
      "Read your months to payoff on the right — it updates as you type.",
      "Hit Share to keep the scenario or send it to someone."
    ]
  },
  "scenarios": [
    {
      "name": "Conservative",
      "description": "Lower-end numbers — what if things land soft?",
      "values": {
        "balance": 7200,
        "rate": 21.5,
        "payment": 250
      }
    },
    {
      "name": "Typical",
      "description": "Defaults — the most common real-world setup.",
      "values": {
        "balance": 12000,
        "rate": 21.5,
        "payment": 400
      }
    },
    {
      "name": "Ambitious",
      "description": "Higher-end numbers — what if things really pop?",
      "values": {
        "balance": 19200,
        "rate": 21.5,
        "payment": 650
      }
    }
  ],
  "limitations": [
    "Results are estimates before tax, fees, and inflation unless an input explicitly covers them.",
    "Rates are treated as fixed for the whole period — variable-rate products will drift from this projection.",
    "This is educational maths, not financial advice. Check anything contractual with the lender or your accountant."
  ],
  "faq": [
    {
      "q": "How does the debt payoff calculator work?",
      "a": "Enter a balance, rate, and what you can pay each month. If the payment barely covers interest the tool will tell you — that is the trap that keeps balances alive for a decade. The underlying maths is: Months = ln(Payment ÷ (Payment − Balance × r)) ÷ ln(1 + r), where r is the monthly rate."
    },
    {
      "q": "What do I need to enter?",
      "a": "3 values: balance, apr, and monthly payment. Each field starts with a sensible default, so you can change one number at a time and watch the result move."
    },
    {
      "q": "What does the months to payoff result mean?",
      "a": "It is returned as a length of time and updates live as you edit the inputs, so you can compare two or three versions of a scenario in a few seconds."
    },
    {
      "q": "Is this calculator free, and do I need an account?",
      "a": "Yes, it's free, and no account is required. Nothing you type is stored on our servers — the maths runs entirely in your browser."
    },
    {
      "q": "How accurate is the result?",
      "a": "It applies the standard formula exactly, so the arithmetic is precise. Results are estimates before tax, fees, and inflation unless an input explicitly covers them."
    },
    {
      "q": "Who is this tool for?",
      "a": "It's built for anyone comparing money scenarios before committing — budgeting a payment, sanity-checking a quote, or seeing what a change in rate or term actually costs."
    }
  ],
  "related": [
    "https://www.revenuelab.fyi/toolbox/credit-card-payoff",
    "https://www.revenuelab.fyi/toolbox/debt-snowball"
  ],
  "license": "CC-BY-4.0",
  "citation": "RevenueLab — Debt Payoff Calculator (https://www.revenuelab.fyi/toolbox/debt-payoff)"
}