Compare highest-interest-first and smallest-balance-first payoff plans for up to six debts while rolling freed payments into remaining balances.
Printed from Calxy · https://www.calxy.net/financial/debt-payoff-calculator
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0 – 1000000000
0 – 1000000000
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0 – 1000000000
Highest-rate-first payoff time
20.0000 months
| Debt | Highest-rate month | Highest-rate interest | Smallest-balance month | Smallest-balance interest |
|---|---|---|---|---|
| 1 | 17 | 851.20 | 20 | 1289.58 |
| 2 | 19 | 265.86 | 10 | 134.91 |
| 3 | 20 | 55.68 | 5 | 12.69 |
Monthly interest approximation, fixed APRs and fixed minimum amounts. No new charges or fees. Payoff month zero means that debt started with a zero balance.
Add monthly interest to each balance, pay each fixed minimum, then send all remaining budget to the priority debt.
Roll freed payments into the remaining debts; keep the total monthly budget unchanged.
Each month, add interest, pay the entered fixed minimum on each debt, then send the remaining fixed budget to the priority balance. The highest-rate method prioritizes APR; the snowball method prioritizes the smallest remaining balance. Once a debt clears, keep its payment in the total budget.
Two zero-interest debts of $1,000 and $500 with $100 and $50 minimums plus $150 extra use a $300 monthly budget. Both strategies clear the $1,500 total in five months.
No. Minimum amounts stay fixed, with smaller final payments. Rates, fees and new charges do not change. A zero-balance debt contributes no minimum to the starting budget.
Last updated . Results are estimates for informational purposes only.