Pay off $1,000 at 24.99% with $150/month

Balance $1,000.00 • APR 24.99% • Payment $150.00/mo

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Adjust inputs to see how payoff time and interest change.

Balance ($)

APR (%)

Monthly Payment ($)

Payoff in: 8 months

Payoff date: 10/27/2026

Total interest: $88.06

Month	Balance	Payment	Interest	Principal	Remaining
1	$1,000.00	$150.00	$20.83	$129.18	$870.83
2	$870.83	$150.00	$18.13	$131.87	$738.96
3	$738.96	$150.00	$15.39	$134.61	$604.35
4	$604.35	$150.00	$12.59	$137.41	$466.93
5	$466.93	$150.00	$9.72	$140.28	$326.66
6	$326.66	$150.00	$6.80	$143.20	$183.46
7	$183.46	$150.00	$3.82	$146.18	$37.28
8	$37.28	$38.06	$0.78	$37.28	$0.00

This scenario starts with $1,000.00 at 24.99% APR. Paying $150.00/month clears the balance in about 8 months (example payoff date: 9/1/2026).

Month one interest is roughly $20.83 (2.08% per month), so about $129.18 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 $200.00/month, you’d save about 2 months in this setup and reduce total interest.

First 12 months. Use the tool for full details.

Month	Payment	Interest	Principal	Remaining
1	$150.00	$20.83	$129.18	$870.83
2	$150.00	$18.13	$131.87	$738.96
3	$150.00	$15.39	$134.61	$604.35
4	$150.00	$12.59	$137.41	$466.93
5	$150.00	$9.72	$140.28	$326.66
6	$150.00	$6.80	$143.20	$183.46
7	$150.00	$3.82	$146.18	$37.28
8	$38.06	$0.78	$37.28	$0.00

Show full schedule

Month	Payment	Interest	Principal	Remaining
1	$150.00	$20.83	$129.18	$870.83
2	$150.00	$18.13	$131.87	$738.96
3	$150.00	$15.39	$134.61	$604.35
4	$150.00	$12.59	$137.41	$466.93
5	$150.00	$9.72	$140.28	$326.66
6	$150.00	$6.80	$143.20	$183.46
7	$150.00	$3.82	$146.18	$37.28
8	$38.06	$0.78	$37.28	$0.00