How Long to Pay it Off?

Enter Balance to Pay off
Example: for \$4,612.45, type 4612.45):

Enter APR (Annual Percentage Rate)
(Example: for 9.99%, type .0999) :

Enter Monthly Payment here:

Questions

1. If you buy a \$1,200 laptop, with APR of 9.99%, how long will it take paying \$20 a month?

2. If you add the expense of this interest, what is the cost of the laptop?

3. How long will it take to pay off if you pay \$40 a month?

4. What is the total cost with this?

5. Most computers are outdated in 2 years time. How much per month would you have to pay in order for the computer to be paid off in 24 months?

6. If the interest was 15.99%, how much would you have to pay per month to have it paid off in 24 months? (How much more in interest are you paying than with the last question?

7. Some credit cards have interst as high as 21.99% If the interest was 21.99%, how much would you have to pay per month to have it paid off in 24 months? (How much more in interest are you paying than with the last question?

8. At 21.99%, how long will it take to pay off your laptop if you pay \$25 a month? How much are you paying in interest?

9. At the current interest rate (21.99%), how much would you have to pay per month to pay as much in interest as the laptop (\$1,200)?