How Long to Pay Off a Loan

Current Loan Balance
Annual Interest Rate
Current Monthly Payment
This loan will be paid off in 61 payments, which will be 5.1 years. Total interest paid over the life of the loan will be $1,102.

Definitions:

Current Loan Balance:

The current balance of the loan.

Annual Interest Rate:

The annual rate of interest being charged for this loan.

Current Monthly Payment:

The current monthly amount you pay on this loan.