Payoff $12,000 Debt

Calculate the monthly payment needed to pay off a debt of $12,000 in a certain number of months or years. It can be used for a credit-card debt, student loan debt, or any other type of debt.
Current Debt
Pay Debt in
Interest Rate
You have a debt of $12,000 with an interest rate of 12.75%.
To pay it off in 2 years, you will have to pay:
$569.09 / month
You will pay a total of $1,658.25 in interest.
What if You Refinance?
The effects of high interest-rate debt can be large. Here's how much you'd have to pay each month to pay off a $12,000 debt in 2 years with different interest rates:
Interest Rate Payment Total Interest
5% $526.46 $634.96
6% $531.85 $764.34
7% $537.27 $894.50
8% $542.73 $1,025
10% $553.74 $1,290
12% $564.88 $1,557
15% $581.84 $1,964
20% $610.75 $2,658
25% $640.46 $3,371
30% $670.95 $4,103
What's the Highest Credit Card Interest Rate?
In the U.S. there is no federal law that limits the rate of interest that a credit card company can charge. However, there is a maximum of 36% for active U.S. military members and their dependents.
Perhaps because of this law, there is no credit card with an APR greater than 36% as of July 2023.
In 2009, First Premier Bank offered a card with a stunning 79.9% interest rate, probably the highest ever.