Calculating interest on credit card debt.

Calculating interest on credit card debt.Calculating interest on credit card debt.
NikkiTut asked 5 years ago

I have 3 cards I PIF the day after they close (62 closings). So, I have no experience on having debt or paying/calculating interest. I am interested to learn more though. Could someone explain it too me and potentially provide me a forumal for excel that would calculate the interest in the given situtations?

 

Old Debt – $ 0

New Balance – $ 450

Paid – $ 25

APR- 22.24%

 

Old Debt – $ 300

New Balance – $ 400

Paid – $ 400

APR – 14.99%

 

Thanks for your time!

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