# Loan Payoff Calculator

Calculate the payoff date for a loan and see how much you’ll pay in interest.



## Loan Payoff Summary:

 Estimated Payoff Date: May 2024 Time to Pay Off: 1 yr and 9 mos Total Interest: $207.25 Total Payments:$5,207.25

### Amortization Schedule:

Amortization schedule for a $5,000.00 loan with a 4.5% interest rate and a 21-month term. DatePaymentPrincipalInterestRemaining Balance Sep 2022$250.00$231.25$18.75$4,768.75 Oct 2022$250.00$232.12$17.88$4,536.63 Nov 2022$250.00$232.99$17.01$4,303.64 Dec 2022$250.00$233.86$16.14$4,069.78 Jan 2023$250.00$234.74$15.26$3,835.04 Feb 2023$250.00$235.62$14.38$3,599.42 Mar 2023$250.00$236.50$13.50$3,362.92 Apr 2023$250.00$237.39$12.61$3,125.53 May 2023$250.00$238.28$11.72$2,887.25 Jun 2023$250.00$239.17$10.83$2,648.08 Jul 2023$250.00$240.07$9.93$2,408.01 Aug 2023$250.00$240.97$9.03$2,167.04 Sep 2023$250.00$241.87$8.13$1,925.17 Oct 2023$250.00$242.78$7.22$1,682.39 Nov 2023$250.00$243.69$6.31$1,438.70 Dec 2023$250.00$244.60$5.40$1,194.10 Jan 2024$250.00$245.52$4.48$948.58 Feb 2024$250.00$246.44$3.56$702.14 Mar 2024$250.00$247.37$2.63$454.77 Apr 2024$250.00$248.29$1.71$206.48 May 2024$207.25$206.48$0.77\$0.00
This calculation is based on widely-accepted formulas, but it is not a recommendation for how to handle your finances. Consult with a financial professional before making financial decisions.
Learn how we calculated this below