Credit, Debt & Safe Borrowing · Interactive practice
Six statements later
See how a made-up payment choice changes interest and what is still owed.
This is a made-up statement for practice — do not type an account number, card number, or your own money details. A $480 balance has a 24% annual percentage rate (APR). Pick a fictional payment and compare six statements.
Choose a monthly payment
Interest is added first in this simple example. A real statement can use different rules and fees.
Steady progress. After six made-up statements, $162 remains and $42.07 went to interest.
Six made-up statements
| Month | Starts at | Interest | Payment | Ends at |
|---|---|---|---|---|
| 1 | $480.00 | $9.60 | $60.00 | $429.60 |
| 2 | $429.60 | $8.59 | $60.00 | $378.19 |
| 3 | $378.19 | $7.56 | $60.00 | $325.75 |
| 4 | $325.75 | $6.52 | $60.00 | $272.27 |
| 5 | $272.27 | $5.45 | $60.00 | $217.72 |
| 6 | $217.72 | $4.35 | $60.00 | $162.07 |
Examples are illustrative practice, not financial advice. Ask a trusted grown-up or a qualified helper about a real financial decision.
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