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How to Calculate Credit Card Interest?
Manage episode 376642669 series 3496630
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To calculate credit card interest, follow these steps: Know your APR, determine the Daily Periodic Rate (DPR), find your Average Daily Balance, calculate daily interest (Average Daily Balance × DPR), consider compounding if applicable, and make at least the minimum payment. For precise amounts, consult your credit card statement, which provides the exact interest owed based on these calculations.
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