203k views
4 votes
Debt Type

Credit Card 1
Credit Card 2
(Private) Student Loan Debt
Vehicle Debt
Mortgage Debt
Amount
$5000
$2950
$25,745
$10,392
$100,197
1. How long does it take to pay off this debt?
I
2. How much total interest do you pay on your debts?
Interest Rate
which
3. List the debts in which order they are paid off:
26.9%
8.25%
10.5%
4.61%
3.44%
Monthly Payment
150
88.50
Part 1 - High Rate
Enter your 5 debts into the What's The Cost? Calculator, using "Interest Order" (aka

Debt Type Credit Card 1 Credit Card 2 (Private) Student Loan Debt Vehicle Debt Mortgage-example-1
User Noha
by
6.9k points

1 Answer

5 votes

Answer:

Select asks which to pay off first: Credit card debt or student loan debt? According to Bruce McClary, a spokesman for the NFCC, there's a special rule.

User Dcousineau
by
7.1k points