Peretek, Inc.


PayItOff is a small, free application for iPhone that allows you to plan for freedom from debt! Take your balance, your interest rate, and the number of months you want to pay off that balance, and PayItOff will provide you the payment amount. Simple, easy, useful.

Where can I get it?

iTunes Link: [ PayItOff ]

What does this beautiful work of art look like?

What does this all mean? PayItOff is pretty self-explanatory, and you need only enter 3 values to make the magic happen. Let's talk about the values displayed here. I entered 2500 as the beginning balance. That loan, say, has an annual interest rate of 12%. You can see that below the balance. Finally, the term of the loan is 3 years, or 36 months that I entered next. I pressed the [Calculate Payment] button and the monthly payment and sum of payments were calculated for me. So, for that specific loan, my monthly payment is 83.04 and at the end of the loan, I'll have paid 2989.29. That's about 120% of the original loan balance.

When you're done with one and want to try another, you can enter the values in, or reset all your inputs by pressing the [Start Over] button.

A Use Case

Shopping for a car? Scheduling it for 5 years (60 months)? Put in the amount you're going to finance, the interest rate you're getting, and 60 for the months. Compare the result from PayItOff with what you received in your paperwork (before you sign it!). Any difference may indicate an undisclosed fee or insurance or some other underhanded trickery. Of course, car dealers are always honest. We're just saying...

It's Just an App!

Note the results of PayItOff are for informational and educational purposes only. The formula used calculates payments by month. Many financial organizations calculate interest daily or at some other frequency. Don't depend on the answer you get here as being precise, but it is a close approximation! And used wisely, it'll show you a lot you didn't know, like where all your money goes every month.

Help Me!

Need help? E-mail us at

One more thing...

Happy shopping! (Bring cash.)