Credit Card Calculator

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).</14pt>

Instructions: </14pt> Type into column A, the total outstanding on your credit card. Type into column B, you annual interest rate percent. You will find 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. Enter one or both of these figures into columns C & D. Leave the last 3 columns blank for the calculation.</14pt>

A Total Amount Outstanding</14pt>	B Annual Interest Rate</14pt>	C Minimum Payment Percentage</14pt>	D Minimum Cash Payment</14pt>	Interest Charges</14pt>	Number of Payments</14pt>	Total No. of Years</14pt>