Payoff Plan: $10,000 in 36 Months
Debt Balance
$10,000
Payoff Target
36 months
Required Monthly Payment by Interest Rate
0% (no interest)
$278/mo
6% APR
$304/mo
+$944 interest
12% APR
$332/mo
+$1,952 interest
18% APR
$362/mo
+$3,032 interest
24% APR
$392/mo
+$4,112 interest
29.99% APR
$424/mo
+$5,264 interest
Debt Payoff Strategies
Avalanche method: pay minimums on all debts, throw extra money at the highest-rate debt first. Mathematically optimal — saves the most interest. Snowball method: pay off smallest balances first for psychological wins. Research shows snowball leads to better follow-through for most people despite costing slightly more in interest.