Payoff $6,000 Debt

Calculate the monthly payment needed to pay off a debt of $6,000 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 $6,000 with an interest rate of 10.99%.
To pay it off in 2 years, you will have to pay:
$279.62 / month
You will pay a total of $710.86 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 $6,000 debt in 2 years with different interest rates:
Interest Rate Payment Total Interest
5% $263.23 $317.48
6% $265.92 $382.17
7% $268.64 $447.25
8% $271.36 $512.73
10% $276.87 $644.87
12% $282.44 $778.58
15% $290.92 $982.08
20% $305.37 $1,329
25% $320.23 $1,685
30% $335.48 $2,051
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.