Credit Card Payoff calulation - Microsoft Access Forum


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Credit Card Payoff calulation

Jerry Fowler

4 years ago

I have been working on a database to help tell me how long it will take to payoff a credit cards. I know the Current Balance, Interest Rate and Amount I would like to pay. What I would like to calculate is how long it will take to pay it off. I can do the reverse and do like a amortization table, but I have not figured this out.

	Alex Hedley @Reply 4 years ago
Why don't you share an example `\| Current Balance \| Interest Rate \| Amount (per month?) \| \| $1,000 \| 5% \| $100 \|` So what calculation have you tried?

	Jerry Fowler OP @Reply 4 years ago
Alex, sorry for the delay in getting back to you. I had actully figured it out by watching a YouTube on Financial Functions and using the NPer Function. The great thing I love about Richard's videos and the Forums is that others don't try to just give you the answers but help you to figure it out on your own. I appreciate all the help in here.

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