See the monthly payment, total interest and total cost of paying off a card balance over a fixed period at a given APR.
Use this calculator to see what it costs to carry a balance on a business card and pay it off with equal monthly payments. Enter the balance, the purchase APR from your card terms, the number of years you plan to take, and any annual or upfront fee you want to include in the total.
How it works. The calculator converts the APR to a monthly rate (APR divided by 12) and uses the standard instalment formula: payment = balance x r / (1 - (1 + r)^-n), where r is the monthly rate and n is the number of months. Total interest is the payment times n minus the balance.
Worked example (illustrative). A $15,000 balance at 24% APR repaid over 2 years means r = 0.02 and n = 24. The payment is about $793 a month, and total interest is about $4,030. Paying over 1 year instead raises the payment to roughly $1,420 but cuts interest to about $2,020.
Limits. Real cards use daily balance methods, minimum-payment formulas, new purchases and variable APRs that move with the prime rate, so your statement will differ. A promotional 0% period is not modeled: enter the post-promotion APR for any balance you expect to remain after it ends. Treat the result as a planning estimate, not a quote.
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