Debt Calculator

You can significantly shorten your debt repayment period by increasing your monthly payment amount. Directing additional income to debt payments, cutting unnecessary spending, and restructuring to a lower-interest loan are effective methods.

If your monthly payment is less than the monthly interest on the debt, the debt will never be paid off and will continuously grow. You need to increase your payment amount to at least above the monthly interest.

Debt repayment period formula: n = -ln(1 - (D x r)/P) / ln(1+r). Where n is the number of months, D is the debt amount, r is the monthly interest rate, and P is the monthly payment.