Pay off $3,000 at 12.99% with $400/month

Balance $3,000.00 • APR 12.99% • Payment $400.00/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: $145.96

Month	Balance	Payment	Interest	Principal	Remaining
1	$3,000.00	$400.00	$32.48	$367.53	$2,632.48
2	$2,632.48	$400.00	$28.50	$371.50	$2,260.97
3	$2,260.97	$400.00	$24.48	$375.52	$1,885.45
4	$1,885.45	$400.00	$20.41	$379.59	$1,505.86
5	$1,505.86	$400.00	$16.30	$383.70	$1,122.16
6	$1,122.16	$400.00	$12.15	$387.85	$734.30
7	$734.30	$400.00	$7.95	$392.05	$342.25
8	$342.25	$345.96	$3.70	$342.25	$0.00

This scenario starts with $3,000.00 at 12.99% APR. Paying $400.00/month clears the balance in about 8 months (example payoff date: 9/1/2026).

Month one interest is roughly $32.48 (1.08% per month), so about $367.53 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.

Total interest paid is about $145.96. 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	$400.00	$32.48	$367.53	$2,632.48
2	$400.00	$28.50	$371.50	$2,260.97
3	$400.00	$24.48	$375.52	$1,885.45
4	$400.00	$20.41	$379.59	$1,505.86
5	$400.00	$16.30	$383.70	$1,122.16
6	$400.00	$12.15	$387.85	$734.30
7	$400.00	$7.95	$392.05	$342.25
8	$345.96	$3.70	$342.25	$0.00

Show full schedule

Month	Payment	Interest	Principal	Remaining
1	$400.00	$32.48	$367.53	$2,632.48
2	$400.00	$28.50	$371.50	$2,260.97
3	$400.00	$24.48	$375.52	$1,885.45
4	$400.00	$20.41	$379.59	$1,505.86
5	$400.00	$16.30	$383.70	$1,122.16
6	$400.00	$12.15	$387.85	$734.30
7	$400.00	$7.95	$392.05	$342.25
8	$345.96	$3.70	$342.25	$0.00