How much interest are you paying?
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How much interest are you paying?
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by Nest Egg Chick at juliemorgenlender.com
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Instructions:

(1) Make a copy of this spreadsheet (you don't need to have gmail.) Go to "File" in the top left corner and choose "Make a copy" (to make a copy in your browser) or "Add to My Drive" (to add this to your Google account's Google Drive) or "Download as" (to make a spreadsheet.)
(2) Enter in the blue cells (overwrite the examples): the interest rate, the balance, and either how much you will pay in addition to the minimum payment OR your total monthly payment amount (if you will only pay the minimum, leave both of these blank) in the proper cells.
(3) All cells will automatically update after a few moments. The total amount you pay will appear in row 410.
(4) Note that if there is a value in cell C408 then you will not have paid off the debt after 33.33 years. Try increasing the monthly payment amount.
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APR:1.00%Balance:$100Extra monthly payment:$0Total monthly payment:$0
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# Years
# MonthsBalanceInterest
Monthly Payment
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0.081100.000.081.08
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0.17299.000.081.07
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0.25398.010.081.06
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0.33497.030.081.05
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0.42596.060.081.04
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0.50695.100.081.03
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0.58794.150.081.02
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0.67893.210.081.01
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0.75992.270.081.00
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0.831091.350.080.99
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0.921190.440.080.98
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1.001289.530.070.97
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1.081388.640.070.96
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1.171487.750.070.95
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1.251586.870.070.94
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1.331686.010.070.93
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1.421785.150.070.92
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1.501884.290.070.91
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1.581983.450.070.90
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1.672082.620.070.90
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1.752181.790.070.89
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1.832280.970.070.88
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1.922380.160.070.87
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2.002479.360.070.86
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2.082578.570.070.85
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2.172677.780.060.84
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2.252777.000.060.83
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2.332876.230.060.83
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2.422975.470.060.82
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2.503074.720.060.81
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2.583173.970.060.80
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2.673273.230.060.79
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2.753372.500.060.79
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2.833471.770.060.78
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2.923571.060.060.77
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3.003670.340.060.76
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3.083769.640.060.75
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3.173868.940.060.75
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3.253968.260.060.74
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3.334067.570.060.73
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3.424166.900.060.72
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3.504266.230.060.72
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3.584365.570.050.71
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3.674464.910.050.70
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3.754564.260.050.70
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3.834663.620.050.69
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3.924762.980.050.68
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4.004862.350.050.68
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4.084961.730.050.67
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4.175061.110.050.66
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4.255160.500.050.66
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4.335259.900.050.65
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4.425359.300.050.64
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4.505458.700.050.64
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4.585558.120.050.63
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4.675657.540.050.62
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4.755756.960.050.62
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4.835856.390.050.61
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4.925955.830.050.60
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5.006055.270.050.60
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5.086154.720.050.59
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5.176254.170.050.59
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5.256353.630.040.58
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5.336453.090.040.58
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5.426552.560.040.57
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5.506652.030.040.56
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5.586751.510.040.56
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5.676851.000.040.55
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5.756950.490.040.55
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5.837049.980.040.54
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5.927149.480.040.54
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6.007248.990.040.53
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6.087348.500.040.53
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6.177448.010.040.52
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6.257547.530.040.51
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6.337647.060.040.51
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6.427746.590.040.50
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6.507846.120.040.50
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6.587945.660.040.49
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6.678045.200.040.49
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6.758144.750.040.48
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6.838244.300.040.48
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6.928343.860.040.48
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7.008443.420.040.47
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7.088542.990.040.47
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7.178642.560.040.46
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7.258742.130.040.46
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7.338841.710.030.45
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7.428941.290.030.45
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7.509040.880.030.44
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7.589140.470.030.44
100
7.679240.070.030.43
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