by eyewashdesign: A. Golden
Question by kkolove2001: Credit card Debt math payment question?
The average american credit card debt in 2004 was $ 8,400. With an annual interest rate of 18%, a payment of $ 246.75/month would payoff the balance in 4 years. I would cost $ _______ ($ 246.75 times 48 payments) to pay off the $ 8400 debt?
So you paid $ _________ in interest for the privilege of buying on credit.
Could someone help me fill in the blank spaces ... the first one obviously I
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