Credit Cost Calculator

Calculate Credit Cost



What is Credit Cost?

The credit cost is the total amount of interest or fees that you will pay on a loan or credit over a specified period. It is calculated based on the total credit amount and the credit rate.

Formula

The formula to calculate the credit cost is:

\[ CC = A \times \frac{CR}{100} \]

Where:

Example Calculation

Let's assume the following values:

Using the formula:

\[ CC = 10000 \times \frac{5}{100} = 500 \text{ $} \]

The credit cost is $500.