This calculator takes the total debt amount and the minimum due payment and calculates the total months and total payments
for given interest rate. You will also see the **payment schedule** and interest paid monthly. Interest rate here should be APR
which includes more complex method. If your bank gives base rate you can calculate it with APR calculator.

After you see the payment schedule for minimum payments, if you can afford, you can consider adding more payments and pay off
even earlier. 💰 💰 💰 Add your __Additional Payment__ and see how it affects your payment schedule. Also if you want to see a quick glimpse of other payment options
you can check our Credit Card Payment Calculator. There you can see a
table of different approaches to your debt, like what if you paid 10% more or even 20%. Is it too fast to pay off it will suggest
you numbers with less payments monthly.

Lets imagine a simple example of 10000$ debt with 5% interest rate. Assuming **minimum payment** is %10 and it will be 1000$ monthly. This
gives us a payment schedule where we pay 1000$ for 10 months and 234.97$ at 11th month. Total interest payment approximately 236$ and we
are debt free in 11 months. For really high debts with low monthly payments may be it is __nearly impossible to pay off__. In these situations
you might consider getting a professional help, applying for a low interest rate loan or negotiating with your bank...