Payoff $4,000 Debt

Calculate the monthly payment needed to pay off a debt of $4,000 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 $4,000 with an interest rate of 19.75%.
To pay it off in 4 months, you will have to pay:
$1,041 / month
You will pay a total of $166 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 $4,000 debt in 4 months with different interest rates:
Interest Rate Payment Total Interest
5% $1,010 $41.75
6% $1,013 $50.12
7% $1,015 $58.50
8% $1,017 $66.89
10% $1,021 $83.68
12% $1,025 $100.50
15% $1,031 $125.78
20% $1,042 $168.04
25% $1,053 $210.48
30% $1,063 $253.09
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.