Payoff Plan: $50,000 in 36 Months
Debt Balance
$50,000
Payoff Target
36 months
Required Monthly Payment by Interest Rate
0% (no interest)
$1,389/mo
6% APR
$1,521/mo
+$4,756 interest
12% APR
$1,661/mo
+$9,796 interest
18% APR
$1,808/mo
+$15,088 interest
24% APR
$1,962/mo
+$20,632 interest
29.99% APR
$2,122/mo
+$26,392 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.