Payoff $38,000 Debt

Calculate the monthly payment needed to pay off a debt of $38,000 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 $38,000 with an interest rate of 7.99%.
To pay it off in 2 years, you will have to pay:
$1,718 / month
You will pay a total of $3,243 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 $38,000 debt in 2 years with different interest rates:
Interest Rate Payment Total Interest
5% $1,667 $2,011
6% $1,684 $2,420
7% $1,701 $2,833
8% $1,719 $3,247
10% $1,754 $4,084
12% $1,789 $4,931
15% $1,842 $6,220
20% $1,934 $8,417
25% $2,028 $10,675
30% $2,125 $12,992
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.