Payoff $3,000 Debt

Calculate the monthly payment needed to pay off a debt of $3,000 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 $3,000 with an interest rate of 8.75%.
To pay it off in 18 months, you will have to pay:
$178.45 / month
You will pay a total of $212.09 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 $3,000 debt in 18 months with different interest rates:
Interest Rate Payment Total Interest
5% $173.34 $120.15
6% $174.70 $144.51
7% $176.05 $168.99
8% $177.42 $193.58
10% $180.17 $243.08
12% $182.95 $293.03
15% $187.15 $368.78
20% $194.29 $497.21
25% $201.58 $628.36
30% $209.01 $762.18
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.