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Bad debt is not only a terrible mental strain, but it also prevents you from
saving money and generating income off of your savings. You need to pay off bad
debts as quickly as possible. This calculator will tell you how much you need to
pay each month to pay off your debt by a certain time in the future. Notice that
if you pay your debt off earlier, you'll save money by paying less interest.
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Debt Payoff Calculator
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Enter the principal balance owed:
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Enter the annual interest rate:
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Select the payoff goal month and year:
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Monthly payment required to achieve payoff goal:
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Number of payments between now and payoff:
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Total interest cost between now and payoff:
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