Debt – Savings Calculator

Editor Debt-Credit Consolidation July 10, 2024

Click here to Download Debt/Savings Calculator

Debt/Savings Calculator
Monthly Payment Needed to Pay Off a Debt
Amount owed	$  1,000.00
Interest rate charged	10.00%
Number of months to pay off debt	15
Monthly payment needed to pay off this debt		$   71.20
How Many Months It Will Take You To Pay Off a Debt
Amount owed	$  1,000.00
Interest rate charged	10.00%
Maximum monthly payment you can afford	$      71.20
Number of months needed to pay off this debt		15.0
How Much You Need To Save Each Month to Meet a Specific Savings Goal
Savings goal	$10,000.00
Rate of return (interest rate) on savings	4.00%
Number of months to reach goal	30.0
Amount to save each month to meet this goal		$ 317.50
How Many Months It Will Take You to Reach a Specific Savings Goal
Savings goal	$10,000.00
Rate of return (interest rate) on savings	4.00%
Maximum amount you can save toward this
goal each month	$     317.50
Number of months needed to reach this goal		30.0