Loan payoff

See how payment size changes everything.

The debt

Balance ($)Yearly interest rate — APR (%)Monthly payment ($)Extra each month ($)

Three ways to pay

Minimum only (3%, $25 floor)

74 months

interest paid: $886.97

Fixed payment

12 months

interest paid: $127.04

Fixed + extra

9 months

interest paid: $100.76

💡 What this means▸

Interest is the price of borrowed money, charged every month on what you still owe. Bigger payments shrink the balance faster, so the interest has less to feed on — that is why the “extra” column wins.

Educational only — this is not legal, tax, or investment advice. Cairn tracks pretend family money; no real money moves anywhere.