Credit card: interest rate: minimum payment: total months: total amount

Credit card: interest rate: minimum payment: total months: total amount

I have five credit cards, each with an annual late payment interest rate of 7%. The minimum payment amount for all cards is 5%. How many months will it take me to pay off the debt by making only the minimum payments? What will be the total amount I pay?

Long to short:

it would take approximately 51 months to pay off the debt by making minimum payments, and the total amount paid would be approximately 2.506 times the total outstanding balance (XXX).

Thanks for your time :)

volkan

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