Credit Card Repayment Calculator

When paying a certain amount of money at a constant time interval, a month in this case, there is a limit when the credit card balance happens to be cleared, leaving no money to continue with the economic transactions. Thereby, the credit card repayment calculator is very useful in helping to figure out the number of monthly payments that can be done each month until nothing is left on the credit card's account. The credit card calculator allows you to create a scheduled table of payments, taking into account important aspects such as the monthly interest rate. It is also capable of revealing an annual detailed forecast of the balance of the credit card with regard to the repayments that are made, showing the amount of money that is left after each repayment number.

It is important to note that the interest rate is the proportion of the repayment charged as interest and expressed as a percentage. However, with the credit card repayment calculator, the interest rate is calculated automatically and displayed as a number, not a percentage.

Instructions on How to Use the Credit Card Repayment Calculator

1. Enter the credit card balance
2. Enter the payment amount
3. Input the annual interest rate expressed as a percentage
4. Type in the number of payments per year.

Do you know how to pay off your debts faster? Use this debt snowball calculator to find out!