>It's not surprising that compound interest escapes people, as they pointed
>out in the Frontline program, the credit card companies make it as
>difficult as
>possible to figure it out. Were there not regulations requiring it, they
>wouldn't even disclose the interest charges.
A few years ago, there was a move in Congress to require credit card issuers to disclose how long it would take to pay off the balance at the minimum payment. The industry went bonkers, covered Capitol Hill with lobbyists, and the proposal was squelched.
Doug