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Worked example
Balance £3,000 at 20% APR, paying £150 a month: about 24.5 months, total paid about £3,679.51, interest about £679.51. Paying only the minimum would take much longer and cost much more interest.
Formula
Months = −log(1 − balance × monthly rate ÷ payment) ÷ log(1 + monthly rate). This assumes no new spending, no fees and a fixed rate.
Results are estimates for information only, not financial advice. If debt is unmanageable, seek free debt advice in your country before deciding.