By paying an additional $100 per month, it will take 25 more payments or 2.1 years to pay off the remaining balance. Interest will amount to $1,362. This represents a savings of $857 in interest if you only made the minimum payment amount each month. You will also pay off the credit card 1.2 years sooner. <div id="chart1Container">Chart will load here</div> <script type="text/javascript"> <!-- var myChart1 = new FusionCharts( "MSColumn2D", "myChart1Id", "100%", "100%", "0", "1" ); myChart1.setXMLData("<chart showValues='0' showFCMenuItem='0' decimals='0' formatNumberScale='0' caption='Cumulative Interest' xAxisName='Years' numberPrefix='$' bgColor='FFFFFF' showBorder='1' borderColor='FFFFFF' borderThickness='1' canvasBgColor='E6E3CF' palette='2' numberSuffix='' thousandSeparator=',' decimalSeparator='.'><categories><category label='1' /><category label='2' /><category label='3' /><category label='4' /></categories><dataset seriesName='Proposed'><set value='966.0' /><set value='1359.0' /><set value='1362.0' /><set value='0' /></dataset><dataset seriesName='Current'><set value='1071.0' /><set value='1822.0' /><set value='2193.0' /><set value='2219.0' /></dataset></chart>"); // --> </script> <table class='pure-table pure-table-bordered' role='grid'><tr><th scope="col">Year</th><th scope="col">Beginning Balance</th><th scope="col">Interest @ 18.000%</th><th scope="col">Annual Payment</th><th scope="col">Ending Balance</th></tr><tr><td role="rowheader" scope="row">1</td><td>$6,670</td><td>$966</td><td>$3,900</td><td>$3,736</td></tr><tr><td role="rowheader" scope="row">2</td><td>3,736</td><td>393</td><td>3,900</td><td>229</td></tr><tr><td role="rowheader" scope="row">3</td><td>229</td><td>3</td><td>232</td><td>0</td></tr></table>