Note: This calculator assumes that payments would have been made at the end of each month and interest would have been compounded monthly. The monthly interest rate is calculated by dividing the annual interest rate by 12.

1. The total potential savings of paying off the credit card balance now is calculated by determining the difference between waiting and paying off the amount now. For simplicity, the potential savings is the interest paid on the balance at the credit card interest rate minus the annual growth rate on the other fund.

2. For simplicity, the total savings is the interest saved grown at the same growth rate on the other fund (line 4) for the same number of years that would have been required to payoff the debt (line 3).