Working out interest deal

468 Posts


Hi guys, I need some help. My CC company have offered me 2 money transfer deals. The one I would normally opt for is the 0% interest free (albeit it's for a shorter period).
The second one is 4.9% interest p.a. over 48 months with a 0% fee. The amount I'd borrow is £5580. The 48 month appeals.
My brain is having a rough time trying to figure out how the 4.9% interest accumulates to? Can anyone help me work this out? Thanks
The second one is 4.9% interest p.a. over 48 months with a 0% fee. The amount I'd borrow is £5580. The 48 month appeals.
My brain is having a rough time trying to figure out how the 4.9% interest accumulates to? Can anyone help me work this out? Thanks
"...and in the end, the love you take, is equal to the love you make".
0
Latest MSE News and Guides
Replies