Payoff $8,000 Debt

Calculate the monthly payment needed to pay off a debt of $8,000 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 $8,000 with an interest rate of 4.95%.
To pay it off in 18 months, you will have to pay:
$462.06 / month
You will pay a total of $317.16 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 $8,000 debt in 18 months with different interest rates:
Interest Rate Payment Total Interest
5% $462.24 $320.40
6% $465.85 $385.37
7% $469.48 $450.64
8% $473.12 $516.20
10% $480.46 $648.22
12% $487.86 $781.41
15% $499.08 $983.41
20% $518.11 $1,326
25% $537.53 $1,676
30% $557.36 $2,032
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.