Pay off $3,000 at 18.99% with $200/month

Balance $3,000.00 • APR 18.99% • Payment $200.00/mo

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Adjust inputs to see how payoff time and interest change.

Balance ($)

APR (%)

Monthly Payment ($)

Payoff in: 18 months

Payoff date: 8/27/2027

Total interest: $452.15

Month	Balance	Payment	Interest	Principal	Remaining
1	$3,000.00	$200.00	$47.47	$152.53	$2,847.48
2	$2,847.48	$200.00	$45.06	$154.94	$2,692.54
3	$2,692.54	$200.00	$42.61	$157.39	$2,535.15
4	$2,535.15	$200.00	$40.12	$159.88	$2,375.26
5	$2,375.26	$200.00	$37.59	$162.41	$2,212.85
6	$2,212.85	$200.00	$35.02	$164.98	$2,047.87
7	$2,047.87	$200.00	$32.41	$167.59	$1,880.28
8	$1,880.28	$200.00	$29.76	$170.24	$1,710.03
9	$1,710.03	$200.00	$27.06	$172.94	$1,537.10
10	$1,537.10	$200.00	$24.32	$175.68	$1,361.42
11	$1,361.42	$200.00	$21.54	$178.46	$1,182.96
12	$1,182.96	$200.00	$18.72	$181.28	$1,001.69
13	$1,001.69	$200.00	$15.85	$184.15	$817.54
14	$817.54	$200.00	$12.94	$187.06	$630.47
15	$630.47	$200.00	$9.98	$190.02	$440.45
16	$440.45	$200.00	$6.97	$193.03	$247.42
17	$247.42	$200.00	$3.92	$196.08	$51.34
18	$51.34	$52.15	$0.81	$51.34	$0.00

This scenario starts with $3,000.00 at 18.99% APR. Paying $200.00/month clears the balance in about 18 months (example payoff date: 7/1/2027).

Month one interest is roughly $47.47 (1.58% per month), so about $152.53 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	$47.47	$152.53	$2,847.48
2	$200.00	$45.06	$154.94	$2,692.54
3	$200.00	$42.61	$157.39	$2,535.15
4	$200.00	$40.12	$159.88	$2,375.26
5	$200.00	$37.59	$162.41	$2,212.85
6	$200.00	$35.02	$164.98	$2,047.87
7	$200.00	$32.41	$167.59	$1,880.28
8	$200.00	$29.76	$170.24	$1,710.03
9	$200.00	$27.06	$172.94	$1,537.10
10	$200.00	$24.32	$175.68	$1,361.42
11	$200.00	$21.54	$178.46	$1,182.96
12	$200.00	$18.72	$181.28	$1,001.69

Show full schedule

Month	Payment	Interest	Principal	Remaining
1	$200.00	$47.47	$152.53	$2,847.48
2	$200.00	$45.06	$154.94	$2,692.54
3	$200.00	$42.61	$157.39	$2,535.15
4	$200.00	$40.12	$159.88	$2,375.26
5	$200.00	$37.59	$162.41	$2,212.85
6	$200.00	$35.02	$164.98	$2,047.87
7	$200.00	$32.41	$167.59	$1,880.28
8	$200.00	$29.76	$170.24	$1,710.03
9	$200.00	$27.06	$172.94	$1,537.10
10	$200.00	$24.32	$175.68	$1,361.42
11	$200.00	$21.54	$178.46	$1,182.96
12	$200.00	$18.72	$181.28	$1,001.69
13	$200.00	$15.85	$184.15	$817.54
14	$200.00	$12.94	$187.06	$630.47
15	$200.00	$9.98	$190.02	$440.45
16	$200.00	$6.97	$193.03	$247.42
17	$200.00	$3.92	$196.08	$51.34
18	$52.15	$0.81	$51.34	$0.00