Loan Payoff Calculator

By CalculatorInn Team · Updated: 2026-03-22 · Free & accurate · Instant results

Calculate how long it will take to pay off a loan and the total interest paid.

Interactive Loan Payoff Calculator

JavaScript is required for the interactive calculator. Enable JavaScript to use this tool.

How to Use This Calculator

Step-by-Step Instructions

  1. Enter your current balance
  2. Enter your annual interest rate
  3. Enter your monthly payment
  4. Enter your months to payoff
  5. Enter your total interest
  6. Enter your result
  7. Enter your months to payoff
  8. Enter your years
  9. Enter your total interest
  10. Results appear instantly — no button needed

Formula

Mathematical Formula

n = -ln(1 - Br/PMT) / ln(1 + r)

How It Works

B = balance, r = monthly rate, PMT = monthly payment.

Frequently Asked Questions

Does paying extra help?

Yes! Even small extra payments can significantly reduce total interest and payoff time.

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