Payoff $20,000 Debt

Calculate the monthly payment needed to pay off a debt of $20,000 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 $20,000 with an interest rate of 4.00%.
To pay it off in 30 years, you will have to pay:
$95.48 / month
You will pay a total of $14,373.90 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 $20,000 debt in 30 years with different interest rates:
Interest Rate Payment Total Interest
5% $107.36 $18,651
6% $119.91 $23,168
7% $133.06 $27,902
8% $146.75 $32,831
10% $175.51 $43,185
12% $205.72 $54,060
15% $252.89 $71,040
20% $334.20 $100,313
25% $416.92 $130,090
30% $500.07 $160,025
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.