Credit Card Projects

Summary of sample formulas for the American Express credit card at 12% APR

Balance Due: for month 1 this is the total cost of your new computer. For months 2-6 this is your NEW BALANCE from the previous month.
Example Formula for month 1: =F8. For months 2-6: =G13, =G14 etc

Minimum Due: this is 2% of your Balance Due.
Example Formula for month 1: =F8*0.02

Amount Paid: enter the minimum due for that month.
Example Formula for month 1: =F9

Unpaid Balance: this is the Balance Due minus the Amount Paid.
Example Formula for month 1: =F8-F10

Finance Charge: this is interest rate of the card (12% in the example) divided by 12 (months) times the Unpaid Balance.
Example Formula for month 1: =F11*(0.12/12)

New Balance: this is the Unpaid Balance plus the Finance Charge.
Example Formula for month 1: =F11+F12

 

Creating Charts

  1. Select the range of cells you wish to chart (the $ amounts of the NEW BALANCE for months 1-6)
  2. Select Insert Chart from the Menu
  3. For a chart type select Line / with markers for each data value. Click NEXT 2 times
  4. Click on the Title tab and enter a title for your chart. Enter in titles to label the X axis and Y axis
  5. Click on the Legend tab and unselect the Show Legend box
  6. Click on the Data Labels tab and select Show Value. Click the Next Button. then the Finish Button