Payoff $7,000 Debt

Calculate the monthly payment needed to pay off a debt of $7,000 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 $7,000 with an interest rate of 5.99%.
To pay it off in 2 years, you will have to pay:
$310.21 / month
You will pay a total of $445.11 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 $7,000 debt in 2 years with different interest rates:
Interest Rate Payment Total Interest
5% $307.10 $370.39
6% $310.24 $445.86
7% $313.41 $521.79
8% $316.59 $598.18
10% $323.01 $752.35
12% $329.51 $908.34
15% $339.41 $1,146
20% $356.27 $1,550
25% $373.60 $1,966
30% $391.39 $2,393
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.