Payoff $23,000 Debt

Calculate the monthly payment needed to pay off a debt of $23,000 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 $23,000 with an interest rate of 8.25%.
To pay it off in 4 years, you will have to pay:
$564.20 / month
You will pay a total of $4,081.61 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 $23,000 debt in 4 years with different interest rates:
Interest Rate Payment Total Interest
5% $529.67 $2,424
6% $540.16 $2,927
7% $550.76 $3,437
8% $561.50 $3,952
10% $583.34 $5,000
12% $605.68 $6,073
15% $640.11 $7,725
20% $699.90 $10,595
25% $762.61 $13,605
30% $828.14 $16,751
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.