Calculating Line of Credit Payments: Understanding, Types, and Calculation Methods
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Calculating Line of Credit Payments: Understanding, Types, and Calculation Methods
This will give you the total amount that needs to be considered when calculating your minimum monthly payment. 4 - calculate the minimum monthly payment. Multiply the current balance of your line of credit by the percentage or interest rate used to determine the minimum payment. This will give you the amount that you need to pay each month to ...
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