Credit Card Pay-Down Calculator

**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