Pay off $3,000 at 12.99% with $200/month

Balance $3,000.00 • APR 12.99% • Payment $200.00/mo

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Adjust inputs to see how payoff time and interest change.

Balance ($)

APR (%)

Monthly Payment ($)

Payoff in: 17 months

Payoff date: 7/27/2027

Total interest: $291.58

Month	Balance	Payment	Interest	Principal	Remaining
1	$3,000.00	$200.00	$32.48	$167.53	$2,832.48
2	$2,832.48	$200.00	$30.66	$169.34	$2,663.14
3	$2,663.14	$200.00	$28.83	$171.17	$2,491.96
4	$2,491.96	$200.00	$26.98	$173.02	$2,318.94
5	$2,318.94	$200.00	$25.10	$174.90	$2,144.04
6	$2,144.04	$200.00	$23.21	$176.79	$1,967.25
7	$1,967.25	$200.00	$21.30	$178.70	$1,788.55
8	$1,788.55	$200.00	$19.36	$180.64	$1,607.91
9	$1,607.91	$200.00	$17.41	$182.59	$1,425.31
10	$1,425.31	$200.00	$15.43	$184.57	$1,240.74
11	$1,240.74	$200.00	$13.43	$186.57	$1,054.17
12	$1,054.17	$200.00	$11.41	$188.59	$865.59
13	$865.59	$200.00	$9.37	$190.63	$674.96
14	$674.96	$200.00	$7.31	$192.69	$482.26
15	$482.26	$200.00	$5.22	$194.78	$287.48
16	$287.48	$200.00	$3.11	$196.89	$90.59
17	$90.59	$91.58	$0.98	$90.59	$0.00

This scenario starts with $3,000.00 at 12.99% APR. Paying $200.00/month clears the balance in about 17 months (example payoff date: 6/1/2027).

Month one interest is roughly $32.48 (1.08% per month), so about $167.53 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 $250.00/month, you’d save about 4 months in this setup and reduce total interest.

First 12 months. Use the tool for full details.

Month	Payment	Interest	Principal	Remaining
1	$200.00	$32.48	$167.53	$2,832.48
2	$200.00	$30.66	$169.34	$2,663.14
3	$200.00	$28.83	$171.17	$2,491.96
4	$200.00	$26.98	$173.02	$2,318.94
5	$200.00	$25.10	$174.90	$2,144.04
6	$200.00	$23.21	$176.79	$1,967.25
7	$200.00	$21.30	$178.70	$1,788.55
8	$200.00	$19.36	$180.64	$1,607.91
9	$200.00	$17.41	$182.59	$1,425.31
10	$200.00	$15.43	$184.57	$1,240.74
11	$200.00	$13.43	$186.57	$1,054.17
12	$200.00	$11.41	$188.59	$865.59

Show full schedule

Month	Payment	Interest	Principal	Remaining
1	$200.00	$32.48	$167.53	$2,832.48
2	$200.00	$30.66	$169.34	$2,663.14
3	$200.00	$28.83	$171.17	$2,491.96
4	$200.00	$26.98	$173.02	$2,318.94
5	$200.00	$25.10	$174.90	$2,144.04
6	$200.00	$23.21	$176.79	$1,967.25
7	$200.00	$21.30	$178.70	$1,788.55
8	$200.00	$19.36	$180.64	$1,607.91
9	$200.00	$17.41	$182.59	$1,425.31
10	$200.00	$15.43	$184.57	$1,240.74
11	$200.00	$13.43	$186.57	$1,054.17
12	$200.00	$11.41	$188.59	$865.59
13	$200.00	$9.37	$190.63	$674.96
14	$200.00	$7.31	$192.69	$482.26
15	$200.00	$5.22	$194.78	$287.48
16	$200.00	$3.11	$196.89	$90.59
17	$91.58	$0.98	$90.59	$0.00