# Payoff \$17,000 Debt

Calculate the monthly payment needed to pay off a debt of \$17,000 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 \$17,000 with an interest rate of 29.95%.
To pay it off in 12 months, you will have to pay:
\$1,657 / month
You will pay a total of \$2,882 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 \$17,000 debt in 12 months with different interest rates:
Interest Rate Payment Total Interest
5% \$1,455 \$463.93
6% \$1,463 \$557.55
7% \$1,471 \$651.46
8% \$1,479 \$745.64
10% \$1,495 \$934.84
12% \$1,510 \$1,125
15% \$1,534 \$1,413
20% \$1,575 \$1,897
25% \$1,616 \$2,389
30% \$1,657 \$2,887
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.