102,641 views
8 votes
8 votes
If you pay the minimum payment of $150/month on your $10,000 debt how long will take you to pay off the debt?

User Andrew Cooke
by
2.6k points

2 Answers

14 votes
14 votes

Answer:

5.55 years or 66.67 months.

Explanation:

5.55 years assuming that you are not factoring in interest rates

10000/150 is 66.67 months

divided by 12 months to a year gives you 5.55 years

User Jeeves
by
2.4k points
15 votes
15 votes

Answer: 5.5 years

Explanation:

User Abhishek Kanojia
by
2.8k points