Payoff $60,000 Debt

Calculate the monthly payment needed to pay off a debt of $60,000 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 $60,000 with an interest rate of 25.95%.
To pay it off in 2 years, you will have to pay:
$3,231 / month
You will pay a total of $17,543 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 $60,000 debt in 2 years with different interest rates:
Interest Rate Payment Total Interest
5% $2,632 $3,175
6% $2,659 $3,822
7% $2,686 $4,473
8% $2,714 $5,127
10% $2,769 $6,449
12% $2,824 $7,786
15% $2,909 $9,821
20% $3,054 $13,290
25% $3,202 $16,855
30% $3,355 $20,514
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.