 |
End Month 1
|
Forward: |
$599.00 |
|
Payment: |
-$100.00 |
|
Interest: |
$0.00 |
|
Balance: |
$499.00 |
|
End Month 2
|
Forward: |
$499.00 |
|
Payment: |
-$100.00 |
|
Interest: |
$0.00 |
|
Balance: |
$399.00 |
|
End Month 3
|
Forward: |
$399.00 |
|
Payment: |
-$100.00 |
|
Interest: |
$0.00 |
|
Balance: |
$299.00 |
|
End
Month 4
|
Forward: |
$299.00 |
|
Payment: |
-$100.00 |
|
Interest: |
$0.00 |
|
Balance: |
$199.00 |
|
End Month 5
|
Forward: |
$199.00 |
|
Payment: |
-$100.00 |
|
Interest: |
$0.00 |
|
Balance: |
$99.00 |
|
End Month 6
|
Forward: |
$99.00 |
|
Payment: |
-$99.00 |
|
Interest: |
$0.00 |
|
Balance: |
$0.00 |
|
|
Starting Balance: $599
0% Interest Rate |
|
|
|
|
|
|
| |
|
|
|
|
|
|
 |
End Month 1
|
Forward: |
$599.00 |
|
Payment: |
-$100.00 |
|
Interest: |
$0.00 |
|
Balance: |
$499.00 |
|
End Month 2
|
Forward: |
$499.00 |
|
Payment: |
-$100.00 |
|
Interest: |
$6.13 |
|
Balance: |
$405.13 |
|
End Month 3
|
Forward: |
$405.13 |
|
Payment: |
-$100.00 |
|
Interest: |
$4.97 |
|
Balance: |
$310.01 |
|
End
Month 4
|
Forward: |
$310.01 |
|
Payment: |
-$100.00 |
|
Interest: |
$3.81 |
|
Balance: |
$213.82 |
|
End Month 5
|
Forward: |
$213.82 |
|
Payment: |
-$100.00 |
|
Interest: |
$2.62 |
|
Balance: |
$116.44 |
|
End Month 6
|
Forward: |
$116.44 |
|
Payment: |
-$99.00 |
|
Interest: |
$1.43 |
|
Balance: |
$18.87 |
|
|
Starting Balance: $599
14.75% Interest Rate |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Or
if you prefer to make small minimum monthly
payments, and then pay-off a big sum at the end
of your promotional period, again you come out
better using your GE Money Card compared to a
typical credit card. In the example below,
we'll assume a 3.5% minimum payment with a full
pay-off at end of the sixth month.
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
 |
End Month 1
|
Forward: |
$599.00 |
|
Payment: |
-$20.97 |
|
Interest: |
$0.00 |
|
Balance: |
$578.03 |
|
End Month 2
|
Forward: |
$578.03 |
|
Payment: |
-$20.23 |
|
Interest: |
$0.00 |
|
Balance: |
$557.80 |
|
End Month 3
|
Forward: |
$557.80 |
|
Payment: |
-$19.52 |
|
Interest: |
$0.00 |
|
Balance: |
$538.28 |
|
End
Month 4
|
Forward: |
$538.28 |
|
Payment: |
-$18.83 |
|
Interest: |
$0.00 |
|
Balance: |
$519.45 |
|
End Month 5
|
Forward: |
$519.45 |
|
Payment: |
-$18.18 |
|
Interest: |
$0.00 |
|
Balance: |
$501.27 |
|
End Month 6
|
Forward: |
$501.27 |
|
Payment: |
-$501.27 |
|
Interest: |
$0.00 |
|
Balance: |
$0.00 |
|
|
Starting Balance: $599
0% Interest Rate
3.5% Minimum Payment |
|
|
|
|
|
Total Expense
$599.00 |
| |
|
|
|
|
|
|
 |
End Month 1
|
Forward: |
$599.00 |
|
Payment: |
-$20.97 |
|
Interest: |
$0.00 |
|
Balance: |
$578.03 |
|
End Month 2
|
Forward: |
$578.03 |
|
Payment: |
-$20.47 |
|
Interest: |
$7.10 |
|
Balance: |
$564.66 |
|
End Month 3
|
Forward: |
$564.66 |
|
Payment: |
-$20.01 |
|
Interest: |
$6.94 |
|
Balance: |
$551.59 |
|
End
Month 4
|
Forward: |
$551.59 |
|
Payment: |
-$19.54 |
|
Interest: |
$6.78 |
|
Balance: |
$538.83 |
|
End Month 5
|
Forward: |
$538.83 |
|
Payment: |
-$19.09 |
|
Interest: |
$6.62 |
|
Balance: |
$526.36 |
|
End Month 6
|
Forward: |
$526.36 |
|
Payment: |
-$532.83 |
|
Interest: |
$6.47 |
|
Balance: |
$0.00 |
|
|
Starting Balance: $599
14.75% Interest Rate
3.5% Minimum Payment |
|
|
|
|
|
Total Expense
$632.91 |
| |
|
|
|
|
|
|