Complete guide
Debt Consolidation Calculator: formula, worked example and interpretation
Compare current weighted-cost debt with a proposed consolidation loan including its fee. Enter the known values and the result updates instantly with an auditable breakdown.
What the Debt Consolidation Calculator answers
Compare current weighted-cost debt with a proposed consolidation loan including its fee.
Use the breakdown to compare the result with the source values before making a decision.
Formula and variables
The calculation uses new payment=financed amount×r/[1−(1+r)^−n]. Every variable comes directly from a labeled field.
new payment=financed amount×r/[1−(1+r)^−n]Worked example
A $25,000 balance can be compared against a four-year consolidation offer including its financed fee.
Changing any field recalculates the result immediately, so nearby scenarios can be compared without reloading the page.
How to use the result
Treat the result as a planning value and compare it with the detailed rows shown beside it.
Keep units and time periods consistent. Use the share or PDF action to preserve the exact assumptions.
Assumptions and scope
The current-plan side uses a constant weighted APR. Confirm fees, prepayment terms and whether old accounts will remain open.
The calculator exposes its assumptions instead of filling missing facts with hidden estimates.
Accuracy checks
Confirm the units, dates, rates and source figures before relying on the output.
Round only the displayed answer; Calculator24 keeps full JavaScript precision for intermediate arithmetic and exported values.
Input and output checklist
| Item | What to enter or review |
|---|---|
| Inputs | Debt to consolidate ($), Current weighted APR (%), Current monthly payment ($), New loan APR (%), New term (years), Origination fee (%) |
| Equation | new payment=financed amount×r/[1−(1+r)^−n] |
| Example | A $25,000 balance can be compared against a four-year consolidation offer including its financed fee. |
| Limit | The current-plan side uses a constant weighted APR. Confirm fees, prepayment terms and whether old accounts will remain open. |
Frequently asked questions
What does this Debt Consolidation Calculator calculate?
Compare current weighted-cost debt with a proposed consolidation loan including its fee.
Which formula does it use?
new payment=financed amount×r/[1−(1+r)^−n]
Does the result update while I type?
Yes. Valid changes recalculate after a short delay and the previous result is not substituted for invalid input.
Which assumptions should I check?
Check units, rates, dates and every source value shown in the form.
Is the result exact?
The current-plan side uses a constant weighted APR. Confirm fees, prepayment terms and whether old accounts will remain open.
Can I save or share the calculation?
Yes. Copy, Share, WhatsApp, PDF/Print, CSV, comparison and parameterized-link actions are available.
What to keep in mind
The current-plan side uses a constant weighted APR. Confirm fees, prepayment terms and whether old accounts will remain open.
Results display up to 8 decimal places; exported numbers preserve calculation precision. This is a calculation summary, not an official certificate.