MCPCalc

Credit Card Payoff Calculator

Estimate payoff timeline with promo APR period, then standard APR and fixed monthly payment.

Scratchpad (not saved)

$
$
%
%

What This Calculator Does

Estimate payoff timeline with promo APR period, then standard APR and fixed monthly payment.

It combines Current Balance, Monthly Payment, Promo APR, Promo Months to estimate Payoff Timeline, Total Interest, Total Paid.

Formula & Method

Core equations: Each month interest accrues: I = B \times \frac{APR}{12} Principal paid: P = M - I. During the promo period a lower APR applies. The calculator simulates month-by-month until balance reaches zero. Inputs are applied in base units, then derived metrics are computed from the same equations and rounded for display.

Notation used in the formulas: R = Payoff Timeline; x_{1} = Current Balance; x_{2} = Monthly Payment; x_{3} = Promo APR; x_{4} = Promo Months; x_{5} = Regular APR.

Method summary: inputs are normalized to consistent units, core equations are evaluated, then secondary values are derived and rounded for display.

Use this calculator for quick scenario analysis. Start with baseline values, change one driver at a time, and compare how sensitive the results are to each input shown above.

Inputs Used

  • Current Balance: Used directly in the calculation.
  • Monthly Payment: Used directly in the calculation.
  • Promo APR: Used directly in the calculation.
  • Promo Months: Used directly in the calculation.
  • Regular APR: Used directly in the calculation.

Related Calculators