credit card question?
If you charge $1,000 on a credit card, how much are you generally required to pay when the bill is due, if you make the minimum monthly payment?
- David B.Lv 72 months ago
It depends on what the agreement states. Some banks have a minimum payment of $25 others require 1% of the balance plus the interest as well as any fees such as a late payment fee. Say you interest is 21% then you would be required to pay $17.50 interest plus %10 or a total of $27.50. At that rate you would take 8.3 years to pay off the principal.
- EvaLv 72 months ago
Common sense should tell you it's $40.
- Anonymous2 months ago
Do your own homework, punk.