How Long to Pay Off $18,000 at 15% APR with $250/Month
Paying $250.00/month on a $18,000 balance at 15% APR takes 15 yrs 6 mo and costs $28,500.00 in interest.
Payoff summary
Months to pay off
186
15 yrs 6 mo
Total interest
$28,500
Total paid
$46,500
1st month interest
$225.00
Computed using the standard amortization formula (monthly compounding at APR/12). Assumes fixed payment with no new charges — real card statements may vary based on billing date, grace period, and fees.
Minimum payment warning: At ~$360.00/month (minimum), payoff takes 6 yrs 7 mo with $10,440.00 in interest — $-18,060.00 more than your $250/month plan.
Payment Schedule (First 6 Months)
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $250.00 | $25.00 | $225.00 | $17,975.00 |
| 2 | $250.00 | $25.31 | $224.69 | $17,949.69 |
| 3 | $250.00 | $25.63 | $224.37 | $17,924.06 |
| 4 | $250.00 | $25.95 | $224.05 | $17,898.11 |
| 5 | $250.00 | $26.27 | $223.73 | $17,871.84 |
| 6 | $250.00 | $26.60 | $223.40 | $17,845.23 |
Showing first 6 of 186 payments. Use the full calculator →
Compare Payment Amounts ($18,000 at 15% APR)
| Monthly Payment | Payoff Time | Total Interest | |
|---|---|---|---|
| $250.00/mo ◀ | 15 yrs 6 mo (186 mo) | $28,500.00 | current |
| $300.00/mo | 9 yrs 4 mo (112 mo) | $15,600.00 | saves $12,900 |
| $400.00/mo | 5 yrs 7 mo (67 mo) | $8,800.00 | saves $19,700 |
| $500.00/mo | 4 yrs 1 mo (49 mo) | $6,500.00 | saves $22,000 |
Try your numbers
Interactive Credit Card Payoff Calculator
Adjust balance, APR, and payment — see full payoff timeline instantly.
FAQ
- How long to pay off $18,000 at 15% APR paying $250/month?
- At $250.00/month on a $18,000 balance at 15% APR, payoff takes 15 years and 6 months (186 payments). Total interest paid: $28,500.00.
- How much interest will I pay on $18,000 at 15%?
- With a $250/month payment you'll pay $28,500.00 in interest over 186 months. Total out-of-pocket: $46,500.00.
- What happens if I pay the minimum on $18,000 at 15%?
- At the minimum payment (~$360.00/month), payoff takes 6 years and 7 months with $10,440.00 in interest — $-18,060.00 more than paying $250/month.
- How do I pay off $18,000 faster?
- Every extra dollar reduces both the balance and future interest. Adding $63 more per month (total $313) would cut roughly 37 months off your payoff time.