IF I ONLY PAY MINIMUM PAYMENTS ON 10,000 CREDIT CARDS - HOW MUCH WILL I OWE AFTER 5 YEARS?
Answers: It depends on how much your minimum monthly payment is.
One site permit me plug in numbers. I said your minimum be 2.5% of your total, $250. As you pay it down, the minimum grows smaller.
Results: It will help yourself to you 858 months to be rid of your debt. In that time, you will pay $48,464.99 within interest. At the 60-month point (5 years), you'd still owe $7783.79.
If that's really your debt, you've got to do agency better than minimum payment.
Your first born child and your right arm.
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Answers: It depends on how much your minimum monthly payment is.
One site permit me plug in numbers. I said your minimum be 2.5% of your total, $250. As you pay it down, the minimum grows smaller.
Results: It will help yourself to you 858 months to be rid of your debt. In that time, you will pay $48,464.99 within interest. At the 60-month point (5 years), you'd still owe $7783.79.
If that's really your debt, you've got to do agency better than minimum payment.
How do most family become truly financially well-off?
Your first born child and your right arm.
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