Pay off $1,000 at 18.99% with $300/month

Balance $1,000.00 • APR 18.99% • Payment $300.00/mo

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Adjust inputs to see how payoff time and interest change.

Balance ($)

APR (%)

Monthly Payment ($)

Payoff in: 4 months

Payoff date: 6/27/2026

Total interest: $36.03

Month	Balance	Payment	Interest	Principal	Remaining
1	$1,000.00	$300.00	$15.83	$284.18	$715.83
2	$715.83	$300.00	$11.33	$288.67	$427.15
3	$427.15	$300.00	$6.76	$293.24	$133.91
4	$133.91	$136.03	$2.12	$133.91	$0.00

This scenario starts with $1,000.00 at 18.99% APR. Paying $300.00/month clears the balance in about 4 months (example payoff date: 5/1/2026).

Month one interest is roughly $15.83 (1.58% per month), so about $284.18 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 $36.03. 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	$300.00	$15.83	$284.18	$715.83
2	$300.00	$11.33	$288.67	$427.15
3	$300.00	$6.76	$293.24	$133.91
4	$136.03	$2.12	$133.91	$0.00

Show full schedule

Month	Payment	Interest	Principal	Remaining
1	$300.00	$15.83	$284.18	$715.83
2	$300.00	$11.33	$288.67	$427.15
3	$300.00	$6.76	$293.24	$133.91
4	$136.03	$2.12	$133.91	$0.00