Credit+Card+Calculator

This spreadsheet is for a person who wants to pay off a particular credit card and must make sure they do not use that card. First the user needs to enter the total balance, the interest rate, the monthly payment percentage or the minimum amount listed on the bill. The first column calculates the minimum payment if a percentage was entered or displays what the user entered as the minimum payment. My formulas show how long in months and years it will take to pay that particular card fully and shows the total interest one will be paying on that card until it is fully paid off. The second column has similar formulas and the user just needs to enter the amount of months he/she wants to fully pay off the card. The interest and monthly payment adjusts accordingly. The third column, the user enters their monthly payment they are comfortable with. The formula then adjusts the months, years, and interest for that particular monthly paid amount.

On the right side, I have a input chart of monthly payment amounts. There the user can see how much they are paying off each month. It then directly affects Credit Card Calculator (Up To Date). The total balance for the card is updated. The user can see the monthly payments shrinking as well as the amount of interest. The user still has the option to adjust the monthly payment as well as the months to pay it off on the new up to date calculator.

My goal is to help out whom ever is in credit card debt. I hope this helps people pay their debt off fast and as well is a wake up call on their spending habits.

creditcardcalculator.xlsx (Link will download from my server jrich.biz)



-Jason Rich richj3@mail.montclair.edu