How Long Will it Take to Pay Off $5,000 of Debt?

How Long Will it Take to Pay Off $5,000 of Debt?

Debt Amount

$

Amount Paid Every Month

$

Interest Rate

%

How much do I need to pay each month to payoff 5k in debt? How long will it take? What's the monthly payment? If you have a high interest rate, consider a debt consolidation. This calculator can be used for any type of debt, such as student loan debt, credit card debt, mortgage, car payment, personal debt, etc.

Monthly payment based on rate and time for a debt of $5,000

Payoff Time	3%	4%	5%	6%	7%	8%
3 months	1,675.01	1,677.79	1,680.57	1,683.36	1,686.15	1,688.94
6 months	840.64	843.08	845.53	847.98	850.43	852.89
9 months	562.52	564.86	567.19	569.54	571.88	574.24
12 months	423.47	425.75	428.04	430.33	432.63	434.94
15 months	340.04	342.29	344.55	346.82	349.10	351.39
18 months	284.42	286.66	288.90	291.16	293.42	295.70
2 years	214.91	217.12	219.36	221.60	223.86	226.14
3 years	145.41	147.62	149.85	152.11	154.39	156.68
4 years	110.67	112.90	115.15	117.43	119.73	122.06
5 years	89.84	92.08	94.36	96.66	99.01	101.38
6 years	75.97	78.23	80.52	82.86	85.25	87.67
7 years	66.07	68.34	70.67	73.04	75.46	77.93
8 years	58.65	60.95	63.30	65.71	68.17	70.68
9 years	52.88	55.20	57.59	60.03	62.53	65.09
10 years	48.28	50.62	53.03	55.51	58.05	60.66
15 years	34.53	36.98	39.54	42.19	44.94	47.78
20 years	27.73	30.30	33.00	35.82	38.76	41.82
25 years	23.71	26.39	29.23	32.22	35.34	38.59
30 years	21.08	23.87	26.84	29.98	33.27	36.69