Formula & method
Months = −ln(1 − rB/P) ÷ ln(1+r)
When payment barely exceeds monthly interest, payoff slows sharply. Paying only a minimum percentage can keep debt alive for years.
Assumptions
- Inputs remain in your browser and are not saved.
- Rates are converted to the payment frequency shown.
- Results are rounded for display; internal calculations retain precision.
Example calculation
Example
A fixed payment above the minimum usually cuts both time and interest.
Important
Educational estimates only — not financial, tax or legal advice.