At 20.55%, I would like to have it paid off by Feb O8, I'm think up putting at least 100 or more every month to get it down, most of the charges on it are from things I've helped my mom with. So she pays a little each month around 20 each month. So I was wondering how long would it take.
2007-09-18 15:12:53 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
regular apr
2007-09-18 15:42:52 · update #1
If you want to pay it off in four months
October 07 through January end 2008, you need a total monthly payment of $199.63
If it's five months through the end of February 2008, the monthly payment is $161.05
If it's six months starting now (September 2007) and ending February end 2008, the monthly payment is $135.33
Should you want to pay $100 a month expect to pay this off in just over 8 months.
At $120 a month, you'll be done in 7 months.
2007-09-18 15:31:36 · answer #1 · answered by RRP 1 · 1⤊ 0⤋
If you pay a total of $120 a month on it from September to February, and don't charge anything else, you'll be paid off in 8 months, which would be April 08. If you can come up with $140 a month, you could pay it off by February.
2007-09-18 22:32:26 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
You have 5 months to Feb 08. Your payments need to be in the $150 range.
2007-09-18 22:35:55 · answer #3 · answered by bdancer222 7 · 1⤊ 0⤋
You could do it in 6 months. If your paying 100$ per month and your mother is paying 20$ per month. Actually my calculations say 6.11 months but since interest rates are starting to come down you should be albe to do it in 6 months. Pay more early on for the greatest effect.
2007-09-18 22:47:43 · answer #4 · answered by D. J 2 · 0⤊ 0⤋
You didn't provide enough information to answer the question. Are you paying 20.55% per year or was this a loan from a money service business and that is a monthly rate?
2007-09-18 22:39:15 · answer #5 · answered by Daniel T 5 · 0⤊ 1⤋
Well if you depositing around 100 a month, it would take less than 9 months, maybe around 8... if you can afford 150 then that would be good also.
2007-09-18 22:27:15 · answer #6 · answered by Skyleigh's Mom :)™ 6 · 0⤊ 0⤋
i used to have $776 dept on my Sony card, when i paid it in 3 months it made my score jump by 30 more points ^_^
so i guess it is best when you pay up dept fast.
2007-09-18 22:31:22 · answer #7 · answered by ★→Damian←★ 4 · 0⤊ 0⤋
$141.04 per month
feb 08=$0.00
2007-09-18 22:54:41 · answer #8 · answered by nickson faction 7 · 0⤊ 0⤋