Note: This interactive calculator is intended as an educational tool but not as investment advice. The information presented isn’t designed to advise you of strategies which are applicable to your specific situation but rather to highlight issues for your consideration. Therefore, you should always consult your financial or tax advisor. Your own goals will help you to develop a specific financial strategy.
To embed this calculator into your site, copy the following text and paste it into your HTML page:
Enter your purchase amount or the amount on your credit card
Enter the interest rate your card charges you
Enter your monthly payment on your card
The minimum payment you entered is less than or equal to your first interest payment. Given that minimum payment, the balance will never be paid off.