Is there a formula for calculating interest on a Personal line of credit?
(there is no amortization date--it is an ongoing loan). Currently I owe
$5,342.62 and interest rate is 5% (says calculated on a daily basis). My
interest on last statement was $20.93 (28 day period, with a $200.00
payment). I am adding on $15,000 next month and want to be able to determine
when my original is all paid off.

Thanks for help.....