Total Credit Card Interest for Month = Balance
x Daily Periodic Rate x Number of Days in Billing Cycle
Not exact matches
Most companies have a mathematical formula that looks like this: average
daily balance
x periodic daily interest
rate x number of days in a billing cycle = finance charge.
The mathematical formula used to calculate monthly interest charges is the same for most card companies: average
daily balance
x periodic daily interest
rate x number of days in a billing cycle.