Cost-of-Debt Calculator
See how much interest your debt is really costing you.
What This Number Means
This cost estimate is only one part of the decision. Before you prioritize payoff, consider:
How much interest your debt is really costing you
Which balances are the most expensive to carry
How the total cost compares to the original amount borrowed
Whether paying this off early would meaningfully reduce the cost
How this cost compares to what the money could earn if invested
How to Use This Calculator
1
Enter your debt balances: Input the balance on each debt you're evaluating.
2
Add interest rates: Enter the rate for each balance.
3
Confirm your payment amounts: Enter what you currently pay toward each debt.
4
Review the true cost: See how much interest your debt is really costing you.
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