Payoff $28,000 Debt

Calculate the monthly payment needed to pay off a debt of $28,000 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 $28,000 with an interest rate of 25.25%.
To pay it off in 5 years, you will have to pay:
$825.95 / month
You will pay a total of $21,556.76 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 $28,000 debt in 5 years with different interest rates:
Interest Rate Payment Total Interest
5% $528.39 $3,704
6% $541.32 $4,479
7% $554.43 $5,266
8% $567.74 $6,064
10% $594.92 $7,695
12% $622.84 $9,371
15% $666.12 $11,967
20% $741.83 $16,510
25% $821.84 $21,310
30% $905.90 $26,354
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.