menu_logo

menu_view_template done edit menu_subscribe menu_add menu_publish iOS Create Account Login
menu_clear
  • menu_insert_row
  • menu_delete_row
  • menu_insert
  • menu_share_template
  • menu_share_results
  • menu_duplicate
  • menu_view_source
  • menu_view_calc_log
  • menu_settings
  • menu_tags
  • help
  • menu_profile
  • menu_log_out
menu_preview_only
details_tap
details_type
details_title

Revolving Debt Calculator

Debts =
Periods =
Payments =
Payment =

Help

Calculates a payment amount for a series of revolving debt instruments to pay off that debt in a certain amount of time. [https://www.investopedia.com/terms/r/revolvingcredit.asp | Revolving debt] examples include lines of credit and credit card debt.

Rows

- Debts: a table where the first column is the borrowed amount (loan amount) and the second is the interest rate expressed as a percentage.
- Periods: desired pay off period for the debt.
- Payment: monthly payment amount to pay off the revolving credit.

Examples

A business secured multiple lines of credit for daily cash flow fluctuations in operations. The business borrowed $30,000 at a 4.75% interest rate, $15,000 at a 5% interest rate, and $50,000 at 6.75% interest rate. If the business wished to pay back the debt over 60 months, what would be the total monthly payment?
- Debts:
30,000; 4.75
15,000; 5
50,000; 6.75
- Periods: 60 months
The monthly payment would be $1,829.95 to pay off all three loans over 60 months.

Keywords

Debts
Periods
Payment
-------------
credit card debt
line of credit
HELOC
home equity line of credit