**Calculator: Credit Card Pay-Down**
**
The true cost of paying the minimum:**
For a sample, go to: <[login to view URL]>
**Information to be input:**
What is your credit card balance (no commas) $ ( )
Interest rate on the credit card (drop down - 1-34) %
How is the minimum calculated? (%) (drop down - 1-5 by .5) %
Your minimum payment: $ ( )
What fixed payment could you make each month? $ ( )
Select a payment based on: (check box) minimum payment or
(check box) fixed payment
Calculate Clear all
(This gives the client 2 choices:
to pay the minimum every month (the minimum due will go down each month) or
to pay a set amount each month.)
**Results: “It will take you ___ months to be rid of your debt.**
“It will take you ___to be rid of your debt.
In that time, you will pay **$ ____in interest**.??
## Deliverables
My target completion date is January 5, 2009