Pay off $5,000 at 12.99% with $200/month

Balance $5,000.00 • 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: 30 months

Payoff date: 8/27/2028

Total interest: $862.07

This scenario starts with $5,000.00 at 12.99% APR. Paying $200.00/month clears the balance in about 30 months (example payoff date: 7/1/2028).

Month one interest is roughly $54.13 (1.08% per month), so about $145.88 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 7 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	$54.13	$145.88	$4,854.13
2	$200.00	$52.55	$147.45	$4,706.67
3	$200.00	$50.95	$149.05	$4,557.62
4	$200.00	$49.34	$150.66	$4,406.96
5	$200.00	$47.71	$152.29	$4,254.66
6	$200.00	$46.06	$153.94	$4,100.72
7	$200.00	$44.39	$155.61	$3,945.11
8	$200.00	$42.71	$157.29	$3,787.81
9	$200.00	$41.00	$159.00	$3,628.82
10	$200.00	$39.28	$160.72	$3,468.10
11	$200.00	$37.54	$162.46	$3,305.64
12	$200.00	$35.78	$164.22	$3,141.43

Show full schedule

Month	Payment	Interest	Principal	Remaining
1	$200.00	$54.13	$145.88	$4,854.13
2	$200.00	$52.55	$147.45	$4,706.67
3	$200.00	$50.95	$149.05	$4,557.62
4	$200.00	$49.34	$150.66	$4,406.96
5	$200.00	$47.71	$152.29	$4,254.66
6	$200.00	$46.06	$153.94	$4,100.72
7	$200.00	$44.39	$155.61	$3,945.11
8	$200.00	$42.71	$157.29	$3,787.81
9	$200.00	$41.00	$159.00	$3,628.82
10	$200.00	$39.28	$160.72	$3,468.10
11	$200.00	$37.54	$162.46	$3,305.64
12	$200.00	$35.78	$164.22	$3,141.43
13	$200.00	$34.01	$165.99	$2,975.43
14	$200.00	$32.21	$167.79	$2,807.64
15	$200.00	$30.39	$169.61	$2,638.03
16	$200.00	$28.56	$171.44	$2,466.59
17	$200.00	$26.70	$173.30	$2,293.29
18	$200.00	$24.82	$175.18	$2,118.12
19	$200.00	$22.93	$177.07	$1,941.04
20	$200.00	$21.01	$178.99	$1,762.06
21	$200.00	$19.07	$180.93	$1,581.13
22	$200.00	$17.12	$182.88	$1,398.25
23	$200.00	$15.14	$184.86	$1,213.38
24	$200.00	$13.13	$186.87	$1,026.52
25	$200.00	$11.11	$188.89	$837.63
26	$200.00	$9.07	$190.93	$646.70
27	$200.00	$7.00	$193.00	$453.70
28	$200.00	$4.91	$195.09	$258.61
29	$200.00	$2.80	$197.20	$61.41
30	$62.07	$0.66	$61.41	$0.00