Estimate the fixed monthly payment needed to amortize a credit-card balance, plus total interest and total repayment cost.
ХАРИУЛТЫГ ОЙЛГОХ
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The balance is treated as an amortizing loan with a constant monthly APR and no new purchases or fees. At 0% APR, payment equals balance divided by the number of months.
Fixed-payment credit-card payoff formulaPayment = P × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where r = APR ÷ 12
Практик жишээ
For a $6,000 balance at 21% APR paid over 3 years, the estimated payment is about $226 per month and total interest is about $2,138.
Тооцооны таамаг
Rates and recurring amounts stay constant for the period represented by the formula.
Inputs use the same monthly or annual time basis stated in each field label.
Taxes, fees and contractual rules are excluded unless the calculator explicitly asks for them.