Payoff $42,000 Debt

Calculate the monthly payment needed to pay off a debt of $42,000 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 $42,000 with an interest rate of 4.99%.
To pay it off in 3 years, you will have to pay:
$1,259 / month
You will pay a total of $3,309 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 $42,000 debt in 3 years with different interest rates:
Interest Rate Payment Total Interest
5% $1,259 $3,316
6% $1,278 $3,998
7% $1,297 $4,686
8% $1,316 $5,381
10% $1,355 $6,788
12% $1,395 $8,220
15% $1,456 $10,414
20% $1,561 $14,191
25% $1,670 $18,117
30% $1,783 $22,187
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.