Everyday
Loan Payoff Time Calculator
Estimate how long a fixed-payment loan balance will take to pay off at a fixed annual interest rate.
- Free to use
- Runs in your browser
- Level A · Standard formula
- Last reviewed 2026-08-16
Calculator guide
How to use the Loan Payoff Time Calculator
Estimate how long a fixed-payment loan balance will take to pay off at a fixed annual interest rate. Enter the requested values and select Calculate. The result and supporting values are produced locally in your browser.
Formula
Worked example
A $12,000 balance at 7% with a $400 monthly payment takes about 32.9 months to pay off.
What to keep in mind
- The estimate assumes the rate and monthly payment remain constant.
- Actual payoff dates can differ because of daily interest, fees, payment timing, and lender rounding.
Methodology
This calculator uses deterministic arithmetic and performs the calculation locally in your browser. Verify assumptions, units, and source values for your specific use case.
Review standard: Level A · Standard formula. How calculator reviews work.
Frequently asked questions
What does this calculator calculate?
Estimate how long a fixed-payment loan balance will take to pay off at a fixed annual interest rate.
How is the result calculated?
Months = −ln(1 − iB ÷ P) ÷ ln(1 + i), where i = annual rate ÷ 12.
Can I use the result for an important decision?
Use the result as a calculation aid and verify the inputs, assumptions, and applicable professional or regulatory requirements before relying on it for an important decision.
Does CalculateMeasure store the values I enter?
The calculator performs its arithmetic in your browser. The calculator itself does not need to send your entered values to a server to produce the result.