Somewhere in your credit card disclosure statement the card company will
tell you something like "your minimum payment" will be 2% of the balance or $10,
whichever is higher. These are the figures you will enter in Column C and Column D
respectively.
Use This Free Credit Card Minimal Interest Calculator Anytime!
Now go and compare the above highway robbery interest charges with those
you will pay if you use a conventional loan. Or better yet,
forgo this purchase until you can afford to pay cash for it, and then go and see how much
you could earn if you invested the interest savings!