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HOW LONG WILL IT TAKE TO PAY OFF A
VISA BILL OF 6500 DOLLARS IF ONE PAYS
300 DOLLARS A MONTH AT AN INTEREST
RATE FOR THE VISA PAYMENT IS 30PERCENT

2006-11-04 10:16:52 · 2 answers · asked by RudiA 6 in Business & Finance Credit

2 answers

32 months. good luck!

2006-11-06 05:20:15 · answer #1 · answered by Annette J 4 · 0 0

Without interest, it would take 22 months (almost 2 years). With interest being 30%/year, calculated for the initial bill as a whole (some people do that), it means you'd be paying $210/month for the loan and $90/month for the interest, resulting 31 months (about 2 years and a half). If the interest is calculated monthly, your repayment period is somewhere between 2 and 2.5 years, but I'm too lazy to compute :)

2006-11-04 18:27:09 · answer #2 · answered by Advantis YM1 2 · 0 0

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