Pay off $1,000 at 12.99% with $150/month

Balance $1,000.00 • APR 12.99% • Payment $150.00/mo

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Adjust inputs to see how payoff time and interest change.

Balance ($)

APR (%)

Monthly Payment ($)

Payoff in: 7 months

Payoff date: 9/27/2026

Total interest: $43.56

Month	Balance	Payment	Interest	Principal	Remaining
1	$1,000.00	$150.00	$10.83	$139.18	$860.83
2	$860.83	$150.00	$9.32	$140.68	$720.14
3	$720.14	$150.00	$7.80	$142.20	$577.94
4	$577.94	$150.00	$6.26	$143.74	$434.20
5	$434.20	$150.00	$4.70	$145.30	$288.90
6	$288.90	$150.00	$3.13	$146.87	$142.02
7	$142.02	$143.56	$1.54	$142.02	$0.00

This scenario starts with $1,000.00 at 12.99% APR. Paying $150.00/month clears the balance in about 7 months (example payoff date: 8/1/2026).

Month one interest is roughly $10.83 (1.08% per month), so about $139.18 goes to principal right away.

Interest is a smaller share of the payment from the start, so most of what you pay reduces principal. That typically leads to a faster payoff curve.

Total interest paid is about $43.56. Even small payment increases can reduce interest, especially at higher APRs.

First 12 months. Use the tool for full details.

Month	Payment	Interest	Principal	Remaining
1	$150.00	$10.83	$139.18	$860.83
2	$150.00	$9.32	$140.68	$720.14
3	$150.00	$7.80	$142.20	$577.94
4	$150.00	$6.26	$143.74	$434.20
5	$150.00	$4.70	$145.30	$288.90
6	$150.00	$3.13	$146.87	$142.02
7	$143.56	$1.54	$142.02	$0.00

Show full schedule

Month	Payment	Interest	Principal	Remaining
1	$150.00	$10.83	$139.18	$860.83
2	$150.00	$9.32	$140.68	$720.14
3	$150.00	$7.80	$142.20	$577.94
4	$150.00	$6.26	$143.74	$434.20
5	$150.00	$4.70	$145.30	$288.90
6	$150.00	$3.13	$146.87	$142.02
7	$143.56	$1.54	$142.02	$0.00