Now, let’s say you want to purchase $100 video games using a credit card. If you don’t pay the entire cost of the video games when the first bill comes, the bank will charge you interest. Let’s say you have budgeted $20 a month for the video games. How much interest will you have paid in 6 months?

Calculator**Video games and the cost of interest**

Month | Amount Owed | Monthly Payment | Interest | Balance Due |

1 | 105.00 | 20.00 | 0 | 85.00 |

2 | 85.00 | 20.00 | 1.31 | 66.31 |

3 | 66.31 | 20.00 | 1.08 | 47.39 |

4 | 47.39 | 20.00 | .84 | 28.23 |

5 | 28.23 | 20.00 | .60 | 8.83 |

6 | 8.83 | 8.83 | .00 | 0 |