Dear Niek Otten,

Thank you for your help.

The problem with NPER is that it looks like it requires constant payments.
whereas I am looking at 5% of the outstanding balance.

e.g. I borrow £1000 on a credit card on 1.2% monthly interest. I only make
monthly payments of 5% of the outstanding balance. How long will it take me
to clear the debt and what will the interest be?

Can I use NPER?

Danny

Thank you for
"Niek Otten" wrote in message
...
Look at the NPER() function.
Make sure you define correctly what you mean by "5%". 5% of what? Initial
debt? Outstanding amount?

Also look at the template and instructions that can be downloaded he

http://office.microsoft.com/en-us/as...346401033.aspx

--
Kind regards,

Niek Otten

"msnews.microsoft.com" wrote in message
...
Hi folks,

I am wondering how I can calculate the interest paid on a credit card
and
how long it will take me to pay off my debt if I make minimum payments
of
5%.

Many thanks,

Danny