Pulling $4,000 from USB Ploc

[Anonymous]

Friends,

I have a ploc limit of 12000 at usbank.

If I pull $4,000 from that ploc and the apr is 11.75% and it takes me 14 days to repay it, how much will it cost me?

P

[dragontears]

11.75%/365×4000×14 = $18.03, might be a few cents higher due to compounding interest

[Anonymous]

$18.07

=4000 * ((1+(0.1175/365))^14) - 4000

[Anonymous]

With the USB PLOC after the statement cuts, you will still see a balance due for trailing interest (not much). Make sure you see and pay it as it is not like the grace period of the standard purchases Apr.