76,500 x 30 = $2,295,000 -

2,295,000 / 30 = $76,500 (Average daily balance)

5.75% / 365 = 0.1575 (Daily periodic rate)

.01575 x 30 x $76,500 = $361.46

$361.46 is financing added to current balance: $76,500 + $361.46 = $76,861.46

It is difficult to determine exact amount of payment when many purchases are made through month. Still you can get in ball park.

The importance of paying down credit card balances Knowing how credit card interest is calculated can make a big difference on how you pay it off. Rather than paying your credit card bill once a month, pay as early and often as you can every month. This way you'll reduce average daily balance and thus amount interest charged. If you are paying off larger amounts of debt, difference can be huge as making minimum payment will assure you years of billing cycles. So pay extra and pay often: For a credit card balance of $8,000 with 10% interest payment and with a $100 minimum payment, it would take a little over 43 years to pay it off. Not to mention interest paid would be around $13,300. So you borrow $8,000 you pay $21,300.

Note, that many home equity loans and equity lines of credit determine interest in a similar fashion. So pay those cards off!

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If you are looking to borrow money over a period of less than ten years, whether you need money for a purchase or perhaps to repay existing debt, then a personal loan may be suitable for your needs.

Personal loans are just another form of credit. If you are considering a personal loan to run alongside other forms of personal credit such as overdrafts and credit cards, you must give careful consideration to whether you will be able to afford total of your regular payments. When considering situation it is wise to take into account your ability to pay were you unable to work due to illness or should you lose your employment.

Frequently lending institution will ask for details of reason you require loan. Although purpose of loan may have little impact on their decision to grant money, it can have some influence on maximum term of loan.

It is more likely that larger sized loans, for purchases such as cars, home improvements etc. will result in a longer repayment term. It is not uncommon for purchase of a car to established with a repayment term of 3 years whilst term for home improvement loans can be for much longer terms, sometimes as long as ten years.

Making repayments under personal loans is same as servicing any debt you may have. If you find that you have difficulty in making your repayments, seek advice from your lender at earliest opportunity. The earlier you tell them of difficulties more sympathetic they are likely to be. They may, for instance, accept a reduced repayment until your circumstances improve.

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