How much will this debt really cost me?

Interest over the life of the debt, minimum-payment trap, and what paying extra saves you.

Debt balance ($)

APR (%)

Minimum payment ($/mo)

Extra payment per month ($)

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Payoff time (months)

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Total interest paid

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Interest saved vs minimum-only

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Time saved vs minimum-only

How is payoff time computed?

Simulated month by month: each month interest = balance×APR/12 is added, then the payment applies. At 22% on $10k with $250/mo it takes ~73 months and ~$8.2k interest.

Does extra payment really help that much?

That extra $100/mo on the example cuts the payoff from ~73 to ~41 months, saving about $3,900 of interest and 32 months of payments — every extra dollar attacks the highest-rate balance first.

What if I have multiple debts?

Run each debt separately and pay the extra toward the highest APR first (avalanche); it's mathematically optimal for total interest.