BARCLAYCARD - How Much Interest?

OMAR

I am trying to figure the costs out of doing the following (ie. How much interest I would pay?)

Balance Transfer 6.9%

£5000 Minimum Payment 2%

Month 1 and 2 - Pay Min
Month 3 - Pay £1500 (expecting lump sum)
Month 4 and 5 - Pay Min
Month 6 - Pay £1500 (expecting lump sum)
Month 7 - Pay Balance off

grumbler

Monthly interst is (1+6.9%)^(1/12)-1=0.5576%

month £balance £interest £payment
1 £ 5,000 £ 27.88 -£ 101
2 £ 4,927 £ 27.47 -£ 99
3 £ 4,856 £ 27.07 -£ 1,500
4 £ 3,383 £ 18.86 -£ 68
5 £ 3,334 £ 18.59 -£ 67
6 £ 3,285 £ 18.32 -£ 1,500
7 £ 1,803 £ 10.06

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________£ 148.25

This calculation does not take balance transfer fee into account. It also assumes that payments are made at the end of each month, not on payment date.