Payoff $18,000 Debt

Calculate the monthly payment needed to pay off a debt of $18,000 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 $18,000 with an interest rate of 8.00%.
To pay it off in 24 months, you will have to pay:
$814.09 / month
You will pay a total of $1,538.19 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 $18,000 debt in 24 months with different interest rates:
Interest Rate Payment Total Interest
5% $789.69 $952.44
6% $797.77 $1,147
7% $805.91 $1,342
8% $814.09 $1,538
10% $830.61 $1,935
12% $847.32 $2,336
15% $872.76 $2,946
20% $916.12 $3,987
25% $960.69 $5,056
30% $1,006 $6,154
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.