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Chapter 8

  • Charge It Right
  • You Will Know
  • Shopping for a Credit Card
  • Cost of Making Minimum Payment
  • Benefit of Making Larger Payments
  • Finance Charge Calculation
  • Correcting Credit Problems

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    Benefit of Making
    Larger Payments





    Original
    Balance    		 APR Monthly
    Payments    		 Total
    Number of
    Monthly
    Payments     		Total
    Years to
    Pay Off     		Total of
    Payments
    $2,500 18% Minimum
    Payment    		 404 34 $8,781
    $2,500 18% $50 94 8 $4,698
    $2,500 18% $100 32 3 $3,163
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