Myusfinance Minimum Payment Calculator

MyUSFinance Minimum Payment Calculator

Current Balance ($)

Please enter a valid balance (≥ 0).

Annual Interest Rate (%)

Please enter a valid APR between 0 and 100.

Minimum Payment % of Balance

Please enter a valid percentage (≥ 0).

Fixed Minimum Amount ($)

Please enter a valid amount (≥ 0).

Result

How it's calculated

The minimum payment is the greater of: (Balance × Minimum Payment %) or the Fixed Minimum Amount. Interest charge = Balance × (APR / 12 / 100). Payoff time is estimated assuming only minimum payments are made, using the formula: n = log(1 - (Balance * (APR/12/100) / minPayment)) / log(1 + APR/12/100). If the minimum payment does not cover interest, payoff is not possible.