One day I was trying to figure out how much I would end up saving by
transferring funds from one credit card to another credit card with different Annual Percentage Rates (APR) and taking into consideration
the transfer fees I would have to pay. I needed to figure out whether it would be worthwhile for me to go through with the tranfer.
So, I found the formula to calculate the APR and decided to offer this tool to the rest of you who are in my situation.
Since I was at it, I also figured I would break down the interest
I pay per day, month, and year. This would give me a better sense of how much I'm spending per day and how it all adds up
if I don't focus on paying off my credit card(s) soon.
I hope this calculator helps you out with your quest
to figure out your finances! It definitely helped me.
Read my related article: How Credit Card Interest is Calculated
Read another related article: What Are The Benefits to Calculating Your Daily Interest Rate?
