Pay off $1,000 at 18.99% with $200/month
Balance $1,000.00 • APR 18.99% • Payment $200.00/mo
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Adjust inputs to see how payoff time and interest change.
Payoff in: 6 months
Payoff date: 8/27/2026
Total interest: $50.30
Schedule (first 24 months)
| Month | Balance | Payment | Interest | Principal | Remaining |
|---|---|---|---|---|---|
| 1 | $1,000.00 | $200.00 | $15.83 | $184.18 | $815.83 |
| 2 | $815.83 | $200.00 | $12.91 | $187.09 | $628.74 |
| 3 | $628.74 | $200.00 | $9.95 | $190.05 | $438.69 |
| 4 | $438.69 | $200.00 | $6.94 | $193.06 | $245.63 |
| 5 | $245.63 | $200.00 | $3.89 | $196.11 | $49.51 |
| 6 | $49.51 | $50.30 | $0.78 | $49.51 | $0.00 |
Explanation
This scenario starts with $1,000.00 at 18.99% APR. Paying $200.00/month clears the balance in about 6 months (example payoff date: 7/1/2026).
Month one interest is roughly $15.83 (1.58% per month), so about $184.18 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 $50.30. Even small payment increases can reduce interest, especially at higher APRs.
Schedule preview
First 12 months. Use the tool for full details.
| Month | Payment | Interest | Principal | Remaining |
|---|---|---|---|---|
| 1 | $200.00 | $15.83 | $184.18 | $815.83 |
| 2 | $200.00 | $12.91 | $187.09 | $628.74 |
| 3 | $200.00 | $9.95 | $190.05 | $438.69 |
| 4 | $200.00 | $6.94 | $193.06 | $245.63 |
| 5 | $200.00 | $3.89 | $196.11 | $49.51 |
| 6 | $50.30 | $0.78 | $49.51 | $0.00 |
Show full schedule
| Month | Payment | Interest | Principal | Remaining |
|---|---|---|---|---|
| 1 | $200.00 | $15.83 | $184.18 | $815.83 |
| 2 | $200.00 | $12.91 | $187.09 | $628.74 |
| 3 | $200.00 | $9.95 | $190.05 | $438.69 |
| 4 | $200.00 | $6.94 | $193.06 | $245.63 |
| 5 | $200.00 | $3.89 | $196.11 | $49.51 |
| 6 | $50.30 | $0.78 | $49.51 | $0.00 |
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