Interest Calculator


See how much money you can save by putting in different rates...

Enter your information here:

Years: Interest (APR): Loan Amount:
i.e. how quickly you want to pay off your credit card debt

Amount you owe


Monthly Payment
This is how much you are going to have to pay (of course without charging more) to reduce your balance to ZERO

Real World Exercise:  Lets say you owe 1,200 and you have a non UCMS credit card with a high interest rate of 17.0%.  Lets say you want to be debt free in two years.  The calculator tells you that you need to budget about $60 bucks to pay off your loan.

The picture gets bad in a hurry if you owe 6,000 at 17% and three years because then your result is a whopping $213.91.

Your goal should be to never OWE more than three times what you can pay off in three months (0.25 years).  0.25 years, 17% interest and x for your loan amount give you the amount that you need to pay per month. Remember that money is a horrible master but a wonderful servant.