Pay off $3,000 at 18.99% with $400/month
Balance $3,000.00 • APR 18.99% • Payment $400.00/mo
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Adjust inputs to see how payoff time and interest change.
Payoff in: 9 months
Payoff date: 11/27/2026
Total interest: $218.85
Schedule (first 24 months)
| Month | Balance | Payment | Interest | Principal | Remaining |
|---|---|---|---|---|---|
| 1 | $3,000.00 | $400.00 | $47.47 | $352.53 | $2,647.48 |
| 2 | $2,647.48 | $400.00 | $41.90 | $358.10 | $2,289.37 |
| 3 | $2,289.37 | $400.00 | $36.23 | $363.77 | $1,925.60 |
| 4 | $1,925.60 | $400.00 | $30.47 | $369.53 | $1,556.07 |
| 5 | $1,556.07 | $400.00 | $24.62 | $375.38 | $1,180.70 |
| 6 | $1,180.70 | $400.00 | $18.68 | $381.32 | $799.38 |
| 7 | $799.38 | $400.00 | $12.65 | $387.35 | $412.03 |
| 8 | $412.03 | $400.00 | $6.52 | $393.48 | $18.55 |
| 9 | $18.55 | $18.85 | $0.29 | $18.55 | $0.00 |
Explanation
This scenario starts with $3,000.00 at 18.99% APR. Paying $400.00/month clears the balance in about 9 months (example payoff date: 10/1/2026).
Month one interest is roughly $47.47 (1.58% per month), so about $352.53 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 $218.85. Even small payment increases can reduce interest, especially at higher APRs.
Schedule preview
First 12 months. Use the tool for full details.
| Month | Payment | Interest | Principal | Remaining |
|---|---|---|---|---|
| 1 | $400.00 | $47.47 | $352.53 | $2,647.48 |
| 2 | $400.00 | $41.90 | $358.10 | $2,289.37 |
| 3 | $400.00 | $36.23 | $363.77 | $1,925.60 |
| 4 | $400.00 | $30.47 | $369.53 | $1,556.07 |
| 5 | $400.00 | $24.62 | $375.38 | $1,180.70 |
| 6 | $400.00 | $18.68 | $381.32 | $799.38 |
| 7 | $400.00 | $12.65 | $387.35 | $412.03 |
| 8 | $400.00 | $6.52 | $393.48 | $18.55 |
| 9 | $18.85 | $0.29 | $18.55 | $0.00 |
Show full schedule
| Month | Payment | Interest | Principal | Remaining |
|---|---|---|---|---|
| 1 | $400.00 | $47.47 | $352.53 | $2,647.48 |
| 2 | $400.00 | $41.90 | $358.10 | $2,289.37 |
| 3 | $400.00 | $36.23 | $363.77 | $1,925.60 |
| 4 | $400.00 | $30.47 | $369.53 | $1,556.07 |
| 5 | $400.00 | $24.62 | $375.38 | $1,180.70 |
| 6 | $400.00 | $18.68 | $381.32 | $799.38 |
| 7 | $400.00 | $12.65 | $387.35 | $412.03 |
| 8 | $400.00 | $6.52 | $393.48 | $18.55 |
| 9 | $18.85 | $0.29 | $18.55 | $0.00 |
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