How to calculate credit card interest - The Points Guy
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WEBOct 26, 2023 · To break your APR down into monthly interest, divide the APR of 21% by 12. In this example of a $1,000 balance, your monthly interest rate is 1.75% or a monthly cost of $17.50. To break it down into daily interest, divide the APR by 365, giving you an interest rate in this example of approximately 0.06% or a daily cost of around 58 cents …
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