Calculator
Credit-card payoff
Use the APR on your statement, not a national average. Most cards that revolve are variable: when the Fed moves the funds rate, prime usually moves, and the card APR follows on the next cycle or the one after.
Time to pay off
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- Interest paid—
- Total paid—
Month-by-month compounding at APR/12. Ignores new charges, late fees, and penalty APRs. If the payment is at or under the monthly interest, the balance never falls. Not advice to revolve a balance.