How much will it take me to pay off my credit card? - credit card calculator
I have a credit card that I owe him $ 600. the minimum $ 45 (I take it as my minimum amount of 200, 15). would still pay $ 200 per month until paid in 4 months or so. I worked with a simulator, and entered my credit card balance (600) percent of my (18) and my payments (200) and speaks to me of my time doing the wrong pay only for 618.00 can be paid. this dosent make sense to me. Can someone explain how you had trouble paying off be4. u can say that my first credit card.
Monday, January 18, 2010
Credit Card Calculator How Much Will It Take Me To Pay Off My Credit Card?
5 comments:
First Month:
$ 600 * 18/12 = $ 9 Interest
$ 609 - $ 200 = $ 409 Balance
Second Month:
$ 409 * 18/12 = 6.14 $ Interest
$ 415.14 - $ 200 = $ 215.14 Balance
Third Month:
$ 215.14 * 18/12 = $ 3.23 Interest
$ 218.37 - $ 200 = $ 18.37 balance
Fourth Month:
$ 18.37 * 18/12 = $ 0.28 Interest
$ 18.61 - 18.61 $ = $ 0 Balance
Total Payments:
$ 200 + $ 200 + $ 200 + 18.61 = $ 618.61
I am sure that the computer is rounded.
I'm not good at math, but I can pose the problem for you
600 balance plus interest = new balance
subtract 200, then add the new equilibrium interest
Lather rinse and repeat
I'm not good at math, but I can pose the problem for you
600 balance plus interest = new balance
subtract 200, then add the new equilibrium interest
Lather rinse and repeat
Something else to think for you to transfer a balance. If you are www.lowcards.com, you can do a balance transfer. There are maps on this site, you can ask them to pay 12 months interest free, the discount cards. Be careful not to resign as soon as you pay the card. 12% of your credit score is up to hours of credit.
It is not that long. Their interest rate was in April, the annual, but is worse in reality a month.
By looking at the computer, you should pay 4 months (provided) a payment of $ 200 per month, and you have to pay only about $ 9 in total interest costs.
http://www.whatsthecost.com/snowball.asp ...
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