Each month, interest is added to every balance, then the minimum is paid on each debt. Anything left over — your extra, plus the minimums freed up by debts you've already cleared — goes to the next debt in your chosen order. "Minimums only" assumes you pay only the minimum on each debt with nothing extra and nothing rolled over. Interest uses your APR divided by twelve, compounded monthly. These are estimates to guide you, not a guarantee — your lender's exact terms may differ.