Should I pay off debt or invest in savings?

This calculator calculates which is the better financial decision: paying off debt or investing the same amount.

When you pay off debt, you eliminate interest expense. During the time you make debt payments, you sacrifice interest income that you could have earned if you had invested the same amount.

However, once you pay off the debt, you can begin to earn interest income on the money you would have spent each month on debt payments.



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