PayoffKit

Pay off $1,000 at 18.99% with $100/month

Balance $1,000.00 • APR 18.99% • Payment $100.00/mo

Prefilled calculator

Adjust inputs to see how payoff time and interest change.

Payoff in: 11 months

Payoff date: 1/27/2027

Total interest: $97.22

Schedule (first 24 months)

MonthBalancePaymentInterestPrincipalRemaining
1$1,000.00$100.00$15.83$84.18$915.83
2$915.83$100.00$14.49$85.51$830.32
3$830.32$100.00$13.14$86.86$743.46
4$743.46$100.00$11.77$88.23$655.22
5$655.22$100.00$10.37$89.63$565.59
6$565.59$100.00$8.95$91.05$474.54
7$474.54$100.00$7.51$92.49$382.05
8$382.05$100.00$6.05$93.95$288.10
9$288.10$100.00$4.56$95.44$192.66
10$192.66$100.00$3.05$96.95$95.71
11$95.71$97.22$1.51$95.71$0.00

Explanation

This scenario starts with $1,000.00 at 18.99% APR. Paying $100.00/month clears the balance in about 11 months (example payoff date: 12/1/2026).

Month one interest is roughly $15.83 (1.58% per month), so about $84.18 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.

If you increased the payment by $50 to $150.00/month, you’d save about 3 months in this setup and reduce total interest.

Schedule preview

First 12 months. Use the tool for full details.

MonthPaymentInterestPrincipalRemaining
1$100.00$15.83$84.18$915.83
2$100.00$14.49$85.51$830.32
3$100.00$13.14$86.86$743.46
4$100.00$11.77$88.23$655.22
5$100.00$10.37$89.63$565.59
6$100.00$8.95$91.05$474.54
7$100.00$7.51$92.49$382.05
8$100.00$6.05$93.95$288.10
9$100.00$4.56$95.44$192.66
10$100.00$3.05$96.95$95.71
11$97.22$1.51$95.71$0.00
Show full schedule
MonthPaymentInterestPrincipalRemaining
1$100.00$15.83$84.18$915.83
2$100.00$14.49$85.51$830.32
3$100.00$13.14$86.86$743.46
4$100.00$11.77$88.23$655.22
5$100.00$10.37$89.63$565.59
6$100.00$8.95$91.05$474.54
7$100.00$7.51$92.49$382.05
8$100.00$6.05$93.95$288.10
9$100.00$4.56$95.44$192.66
10$100.00$3.05$96.95$95.71
11$97.22$1.51$95.71$0.00

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