7 Compound Interest Mistakes That Cost You Thousands in 2026
Avoid these common compound interest mistakes that silently erode your wealth. See real dollar costs of procrastination, early withdrawals, and other compounding killers.
Read article →Understanding This Calculator
Enter your debt balance, APR, and monthly payment to see exactly when you'll be debt-free and how much interest you'll pay along the way.
Core Formula
n = -log(1 - rP/M) / log(1+r)
What if I can only make minimum payments?
Minimum payments on credit cards often barely cover interest. You may need to increase payments or consider a balance transfer to make meaningful progress.
Should I save or pay off debt first?
Build a $1,000 starter emergency fund first, then attack high-interest debt (above 7-8%). After that, balance saving with extra debt payments based on rates and psychology.
* All calculations above are theoretical estimates. Actual returns vary based on market performance, fees, taxes, inflation, and economic factors. This tool is for educational purposes only — not financial advice.