Loan Payoff Calculator
By FiscallyAI Editorial (AI-assisted) • Updated 2026-07-14 • Educational tool
Solve it in either direction. Know what you can pay each month? See exactly when you'll be debt-free. Have a target payoff date? See the monthly payment it takes to hit it.
What do you want to solve for?
Must be more than one month's interest, or the balance never shrinks.
Enter your target number of months (e.g. 36 = 3 years).
Your payoff plan
Time to pay off
—
Enter your numbers to see the plan.
Total interest
$0
Total paid
$0
The formulas behind it
Both directions come from the standard amortized-loan equation, solved for whichever variable you're missing.
Payment → time: n = −ln(1 − rP/M) / ln(1+r)
Time → payment: M = P · r(1+r)ⁿ / [(1+r)ⁿ − 1]
- P = current balance
- r = monthly rate (APR ÷ 12)
- M = monthly payment, n = number of months
Total interest is simply your payment times the number of months, minus the balance you started with. If your monthly payment is less than or equal to one month's interest, the balance grows instead of shrinking — the calculator flags that rather than showing an impossible payoff date.
Disclaimer: Educational tool only, not financial advice. It assumes a fixed rate and no new charges added to the balance. Credit-card minimums, fees, and promotional rates can change the real timeline.