Payoff $21,000 Debt

Calculate the monthly payment needed to pay off a debt of $21,000 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 $21,000 with an interest rate of 9.95%.
To pay it off in 2 years, you will have to pay:
$968.56 / month
You will pay a total of $2,245.41 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 $21,000 debt in 2 years with different interest rates:
Interest Rate Payment Total Interest
5% $921.30 $1,111
6% $930.73 $1,338
7% $940.22 $1,565
8% $949.77 $1,795
10% $969.04 $2,257
12% $988.54 $2,725
15% $1,018 $3,437
20% $1,069 $4,651
25% $1,121 $5,899
30% $1,174 $7,180
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.