Payoff Plan: $50,000 in 48 Months
Debt Balance
$50,000
Payoff Target
48 months
Required Monthly Payment by Interest Rate
0% (no interest)
$1,042/mo
6% APR
$1,174/mo
+$6,352 interest
12% APR
$1,317/mo
+$13,216 interest
18% APR
$1,469/mo
+$20,512 interest
24% APR
$1,630/mo
+$28,240 interest
29.99% APR
$1,800/mo
+$36,400 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.