Payoff Plan: $10,000 in 48 Months
Debt Balance
$10,000
Payoff Target
48 months
Required Monthly Payment by Interest Rate
0% (no interest)
$208/mo
6% APR
$235/mo
+$1,280 interest
12% APR
$263/mo
+$2,624 interest
18% APR
$294/mo
+$4,112 interest
24% APR
$326/mo
+$5,648 interest
29.99% APR
$360/mo
+$7,280 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.