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Credit Card Minimum Payment Interest 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).

The code is based on cci.html found at Web Winder JavaScript Calculators


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 for "minimum payment percent" and "minimum Minimum Payment permitted", respectively.

Credit Card Interest Calculator
Enter the amount charged on the credit card
Enter the annual interest rate (%)
Enter the minimum payment percent (%)
Enter the minimum Minimum Payment permitted
Click on "Compute" to obtain the following data, calculated on minimum required payment:
Total interest to be paid
Total number of payments
Total number of years

This CALCULATOR courtesy of:
Web Winder JavaScript Calculators