Accelerated Debt Payoff Calculator
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This calculator will show you how much
time and money you could save by paying off your debts
using the "rollover" method. Using the rollover method,
as each smaller debt is paid off, the freed-up payment
amount is then applied to the next larger debt, and
so on until all debts are paid off. As you are about
to see, the rollover method can save you a ton of
money in interest charges, and get you debt free in
a very short period of time.
Instructions: Ordered from smallest balance
to highest balance, enter the name, current balance,
interest rate and minimum payment amount for all
of your debts (up to a maximum of 10 debts). Next,
enter a monthly dollar amount you could add to your
accelerated debt payoff plan. Then, click the "Calculate
Results" button.
Note: If you include your mortgage in your
Accelerated Debt Payoff Plan, be sure to enter only
the principal & interest portion of your monthly
mortgage payment (don't include monthly tax and
insurance portion). |
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Entry Columns
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Calculated Columns
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| # |
Creditor |
Principal
Balance ($) |
Interest
Rate (%) |
Payment
Amount ($) |
Interest
Cost |
# of Pmts
Left |
| 1 |
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| 2 |
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| 8 |
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| 9 |
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| 10 |
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Enter
a monthly dollar amount you can add to your debt
payoff plan: |
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| Results |
Principal
Balance |
Interest
Rate |
Payment
Amount |
Interest
Cost |
# of Pmts
Left |
| Current totals: |
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N/A |
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| ADP totals: |
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N/A |
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Time and interest savings from Accelerated
Debt Payoff Plan:
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