Debt or investing

Pay Down Debt or Invest Calculator

Compare putting extra money toward debt with investing that same amount each month.

Debt

Debt type

Current balance

Debt APR

Use your own effective after-tax rate if a tax effect matters.

Minimum monthly payment

Include a prepayment penalty or fee

How to compare the options

Extra cash available each month

Comparison period

Annual investment return after fees and taxes

Use a conservative estimate. This is not a forecast.

Invest the freed payment after the debt is paid off

We do not calculate interest deductions, student-loan benefits or credit-score changes. The numbers can help you compare the options, but they cannot choose for you.

Results

Enter your debt, payment, extra monthly cash, timeline and expected investment return.