Pay off $1,000 at 12.99% with $200/month

Balance $1,000.00 • APR 12.99% • Payment $200.00/mo

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Adjust inputs to see how payoff time and interest change.

Balance ($)

APR (%)

Monthly Payment ($)

Payoff in: 6 months

Payoff date: 8/27/2026

Total interest: $33.79

Month	Balance	Payment	Interest	Principal	Remaining
1	$1,000.00	$200.00	$10.83	$189.18	$810.83
2	$810.83	$200.00	$8.78	$191.22	$619.60
3	$619.60	$200.00	$6.71	$193.29	$426.31
4	$426.31	$200.00	$4.61	$195.39	$230.92
5	$230.92	$200.00	$2.50	$197.50	$33.42
6	$33.42	$33.79	$0.36	$33.42	$0.00

This scenario starts with $1,000.00 at 12.99% APR. Paying $200.00/month clears the balance in about 6 months (example payoff date: 7/1/2026).

Month one interest is roughly $10.83 (1.08% per month), so about $189.18 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 $33.79. 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	$200.00	$10.83	$189.18	$810.83
2	$200.00	$8.78	$191.22	$619.60
3	$200.00	$6.71	$193.29	$426.31
4	$200.00	$4.61	$195.39	$230.92
5	$200.00	$2.50	$197.50	$33.42
6	$33.79	$0.36	$33.42	$0.00

Show full schedule

Month	Payment	Interest	Principal	Remaining
1	$200.00	$10.83	$189.18	$810.83
2	$200.00	$8.78	$191.22	$619.60
3	$200.00	$6.71	$193.29	$426.31
4	$200.00	$4.61	$195.39	$230.92
5	$200.00	$2.50	$197.50	$33.42
6	$33.79	$0.36	$33.42	$0.00