Current location - Trademark Inquiry Complete Network - Overdue credit card - How much does it cost to pay back a 6,000 credit card that is overdue for seven years?
How much does it cost to pay back a 6,000 credit card that is overdue for seven years?

14,170 yuan.

The annual interest rate of most credit cards is between 13-20% annual interest rate. Here it is assumed to be 16.

Credit card interest is calculated using the compound interest calculation method, that is, compound interest on principal and interest.

According to the formula: overdue principal × (1 year interest rate) ^ number of overdue years = repayment amount

, calculate the repayment required for a credit card principal of 6,000 yuan that is overdue for 7 years:

p>

6000×(1 0.16)^7=6000×2.3617=14170 yuan.

Related articles
  • The credit card of Bank of Communications was swallowed (unpaid).
  • Does the credit card pre-authorized payee have the right to deduct directly?
  • Which bank can handle visa savings cards?
  • Pufa Credit Card called to ask my work address. Has it been approved?
  • What to do if UnionPay authentication fails?
  • Hello, I'm a new employee. I have a labor contract. Can I apply for a credit card?
  • Credit cards can only be used by swiping. Can't you withdraw money?
  • Skills of managing credit cards
  • What does a credit card fixed limit mean?
  • Is Yitong loan reliable? Unscramble the actual situation of Yitong loan.

    • copyright 2024 Trademark Inquiry Complete Network All rights reserved