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Ask the Times

By Times Wires
Published October 7, 2007


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What is the formula to calculate how many years it will take to pay off credit card debt if you only make the minimum payment?

- Mary Kinkade, Pinellas Park

We found an exact formula from Ask Dr. Math, a question and answer service for math students and their teachers. Visit http://mathforum.org/library/drmath/view/54618.html if you'd like to use a little algebra. For those less mathematically inclined, try a credit card calculator at sites such as www.bankrate.com or www.debtreliefusa.org.

To submit a question, e-mail answers@tampabay.com visit tampabay.com or call 727 893-8179, toll-free 1-800-333-7507, ex. 8179.

[Last modified October 7, 2007, 00:32:21]


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