| This calculator will show you
how much interest you will end up paying if you make only the minimum
required payment on your credit card bill. It will also tell you how
many minimum payments you will make before your balance is paid off (up
to a maximum of 600 payments).
Instructions:
Somewhere in your
credit card disclosure statement the card company will tell you
something like "your minimum payment will be 2% of the balance or $10,
whichever is higher. These are the figures you will enter in Column C
and Column D respectively. |
