Debt payoff time
Enter the balance, the annual rate and how much you pay each month: find out how long it takes and the total interest.
What it's for
Handy to see how much a debt or card balance really «costs» you: the lower the payment, the more months and interest. Raising the payment shortens it a lot.
Warning
If the payment is at or below the monthly interest, the balance never falls. Revolving credit cards have very high rates: pay them off as soon as you can.