EconEdLink
IT’S GONNA TAKE ME HOW LONG???????
You want, want, want things and things and more things. You just have to have something!!! You can’t do without it……all your friends have it………you’ll look so cool with it………you’ll feel so great showing it off!!!!! What about paying it off?????
Use this handy dandy little tool to calculate how long it will take to pay off your debt.
1. You have $10,000 in debt and your credit card interest rate is 8.9%. You figure you can swing paying $200/month IF you don’t charge anything new. How long will it take you to pay this back?
2. You have $10,000 in debt and your credit card interest rate is 12.9%. You figure you can swing paying $200/month IF you don’t charge anything new. How long will it take you to pay this back?
3. You have $10,000 in debt and your credit card interest rate is 12.9%. You figure you can swing paying $100/month IF you don’t charge anything new. How long will it take you to pay this back?
4. You have $10,000 in debt and your credit card interest rate is 12.9%. You figure you can swing paying $150/month IF you don’t charge anything new. How long will it take you to pay this back?
5. You have $5,000 in debt and your credit card interest rate is 14.9%. You figure you can swing paying $100/month IF you don’t charge anything new. How long will it take you to pay this back?
6. Uh oh!!!! You missed a payment and your interest rate jumped sky high!!!! You have $10,000 in debt and your credit card interest rate is 23.9%. You figure you can swing paying $200/month IF you don’t charge anything new. How long will it take you to pay this back?
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