Ask the Times
By Times Wires
Published October 7, 2007
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 firstname.lastname@example.org 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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