You have some extra cash and wonder whether to pay off debt or to invest it. It's a decision some make without careful consideration. But it has long term consequences. This free calculator shows you the future effects of an investment versus the effects of paying down a current debt. You need only three number: the amount available to invest, the anual interest rate on your current debt, and your investment's annual return.

With these three number, you can quickly determine whether investing a windfall makes more sense than paying off a debt. Remember, you should always consult your own financial advisor before making important financial decisions.