Name: Cele . Gender: Female . Usage: Cele, of latin origin, is not a popular first name. It is more often used as a girl (female) name. People having the name Cele appear to be originating from all over the world. Variants: For another variant of the name Cele across the world, see Cecilia.
Most credit card companies base the finance charge on the outstanding or average daily balance. That means the finance charge will be different depending on the length of the billing cycle and when during that billing cycle the payment is received. This calculator assumes the payment is made halfway through the monthly billing cycle.
And if your card compounds the interest (a practice of charging interest on the monthly interest accrued), the total interest will be several dollars more than the annual rate. To calculate your monthly interest charge, the bank takes the 18% APR and divides it by 12 months for the year. That comes to 1.5% of the average daily balance for the month. The average daily balance is a method of leveling out the amount you owe, which may fluctuate from day to day because of payment and purchases.