use an online loan calculator determine the total cost of repaying a 750 credit card loan with a 17.99%
To determine the total cost of repaying a $750 credit card loan with a 17.99% interest rate, we can use an online loan calculator.
1. Open an online loan calculator like Bankrate or NerdWallet.
2. Input the loan amount: $750.
3. Enter the loan term or desired repayment period. Let's assume a period of 12 months for simplicity.
4. Input the interest rate: 17.99%.
5. Check if there are any additional fees or costs associated with the loan, such as an origination fee or annual fee. If there are, input those values as well. If not, leave it blank.
6. Click on the Calculate or Calculate Loan button.
The calculator will then provide you with the monthly payment amount and the total cost of repaying the loan.
For example, assuming a 12-month repayment period and no additional fees, the calculator might provide the following estimated results:
- Monthly payment: $68.58
- Total cost after the 12-month period: $822.96
Note that these numbers may vary based on the specific terms of the credit card loan and the methodology used by the loan calculator.