Pay off $3,000 at 12.99% with $150/month

Balance $3,000.00 • APR 12.99% • Payment $150.00/mo

Prefilled calculator

Adjust inputs to see how payoff time and interest change.

Balance ($)

APR (%)

Monthly Payment ($)

Payoff in: 23 months

Payoff date: 1/27/2028

Total interest: $399.29

Month	Balance	Payment	Interest	Principal	Remaining
1	$3,000.00	$150.00	$32.48	$117.53	$2,882.48
2	$2,882.48	$150.00	$31.20	$118.80	$2,763.68
3	$2,763.68	$150.00	$29.92	$120.08	$2,643.59
4	$2,643.59	$150.00	$28.62	$121.38	$2,522.21
5	$2,522.21	$150.00	$27.30	$122.70	$2,399.51
6	$2,399.51	$150.00	$25.97	$124.03	$2,275.49
7	$2,275.49	$150.00	$24.63	$125.37	$2,150.12
8	$2,150.12	$150.00	$23.28	$126.72	$2,023.40
9	$2,023.40	$150.00	$21.90	$128.10	$1,895.30
10	$1,895.30	$150.00	$20.52	$129.48	$1,765.82
11	$1,765.82	$150.00	$19.11	$130.89	$1,634.93
12	$1,634.93	$150.00	$17.70	$132.30	$1,502.63
13	$1,502.63	$150.00	$16.27	$133.73	$1,368.90
14	$1,368.90	$150.00	$14.82	$135.18	$1,233.71
15	$1,233.71	$150.00	$13.35	$136.65	$1,097.07
16	$1,097.07	$150.00	$11.88	$138.12	$958.94
17	$958.94	$150.00	$10.38	$139.62	$819.32
18	$819.32	$150.00	$8.87	$141.13	$678.19
19	$678.19	$150.00	$7.34	$142.66	$535.54
20	$535.54	$150.00	$5.80	$144.20	$391.33
21	$391.33	$150.00	$4.24	$145.76	$245.57
22	$245.57	$150.00	$2.66	$147.34	$98.23
23	$98.23	$99.29	$1.06	$98.23	$0.00

This scenario starts with $3,000.00 at 12.99% APR. Paying $150.00/month clears the balance in about 23 months (example payoff date: 12/1/2027).

Month one interest is roughly $32.48 (1.08% per month), so about $117.53 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 6 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	$32.48	$117.53	$2,882.48
2	$150.00	$31.20	$118.80	$2,763.68
3	$150.00	$29.92	$120.08	$2,643.59
4	$150.00	$28.62	$121.38	$2,522.21
5	$150.00	$27.30	$122.70	$2,399.51
6	$150.00	$25.97	$124.03	$2,275.49
7	$150.00	$24.63	$125.37	$2,150.12
8	$150.00	$23.28	$126.72	$2,023.40
9	$150.00	$21.90	$128.10	$1,895.30
10	$150.00	$20.52	$129.48	$1,765.82
11	$150.00	$19.11	$130.89	$1,634.93
12	$150.00	$17.70	$132.30	$1,502.63

Show full schedule

Month	Payment	Interest	Principal	Remaining
1	$150.00	$32.48	$117.53	$2,882.48
2	$150.00	$31.20	$118.80	$2,763.68
3	$150.00	$29.92	$120.08	$2,643.59
4	$150.00	$28.62	$121.38	$2,522.21
5	$150.00	$27.30	$122.70	$2,399.51
6	$150.00	$25.97	$124.03	$2,275.49
7	$150.00	$24.63	$125.37	$2,150.12
8	$150.00	$23.28	$126.72	$2,023.40
9	$150.00	$21.90	$128.10	$1,895.30
10	$150.00	$20.52	$129.48	$1,765.82
11	$150.00	$19.11	$130.89	$1,634.93
12	$150.00	$17.70	$132.30	$1,502.63
13	$150.00	$16.27	$133.73	$1,368.90
14	$150.00	$14.82	$135.18	$1,233.71
15	$150.00	$13.35	$136.65	$1,097.07
16	$150.00	$11.88	$138.12	$958.94
17	$150.00	$10.38	$139.62	$819.32
18	$150.00	$8.87	$141.13	$678.19
19	$150.00	$7.34	$142.66	$535.54
20	$150.00	$5.80	$144.20	$391.33
21	$150.00	$4.24	$145.76	$245.57
22	$150.00	$2.66	$147.34	$98.23
23	$99.29	$1.06	$98.23	$0.00