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$15,000 Debt Payoff Calculator

Create a plan to eliminate $15,000 in credit card debt. See total interest costs.

Card Details

$
%
$

Paying $400/mo

Debt-Free In

60months(5.0 years)
Total PrincipalTotal Interest
$15,000.00+$8,736.27

Total Cost of Debt

$23,736.27

You will pay $8,736.27 in interest fees.

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Analysis: $15,000 Balance

With $15k in debt, you are in the 'Danger Zone'. Consider debt consolidation or the Avalanche method to attack high rates first.

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Frequently Asked Questions

How long to pay off $15,000?

With a monthly payment of $400, it will take approximately 60 months to pay off $15,000 at 20% APR.

How much interest will I pay on $15,000?

At 20% APR, you are paying roughly $250 in interest alone every single month. To make progress, your payment must exceed this amount.

Is it better to pay minimum or extra?

Always pay extra. Paying only the minimum (~2%) typically extends your debt timeline to 15-20 years. Doubling the minimum often cuts that to 3-5 years.