How this calculator works
Enter the balance, interest rate and planned payment. The calculator estimates how the balance falls over time.
Formula
Payoff timing depends on balance, periodic interest and payment amount.
When to use it
Compare your normal payment with a higher payment to see the potential time and interest savings.
Important
This calculator is for estimation and planning. Actual financial outcomes can differ because of taxes, fees, timing, market conditions, lender terms and other factors.