Debt Payoff Calculator
You've borrowed for your college education (student loan debt), your dream home (mortgage debt), vacations (credit card debt), now you can use this tool to estimate how long it will take to pay it all back.
The results provided by this calculator are intended for illustrative purposes only and accuracy is not guaranteed. This calculator is not intended to offer any tax, legal or financial advice and does not assure the availability of your eligibility for any specific product offered by Parable Technology Systems, its affiliates or any other institution.
Category : Finance
Reviews (7)
Did not work for stupid high interest rates would not allow anything over 100% interest, there are loans over 100% that is why.
Great for on the fly calculations. Not a debt tracker. Just a good calculator for doing a budget or financial plan.
Compared this to commercial debt calculators like at banknote, very precise. Does allow for decimal interest rates!
It works for a quick snapshot of how many years it will take to pay off a debt at a certain APR, or how much you will have to pay per month to pay it off in a given timeframe. That's cool, but I would prefer to be able to see the timeframe given in months as well as years. Still, for a simple, free, no-ads app, it'll do.
Simple and to the point, I'll be debt free much sooner than I thought
Cant even type 4 numbers
Can't input multiple debts to calculate snowball. Can't even input decimal points. Pretty much useless. In response to person asking about 100% interest rates, you will need to pay off the existing debt with a much lower interest rate loan to ever get out of debt. Interest rates greater than 100% are what would be categorized as a scam.