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Math - Calculating Interest |
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A credit card debt of $5,000 at 18% interest, making only minimum payments would take 12.5 years to pay off and the total amount paid would be almost $8,000 (the fee paid to the lender would be just under $3,000 - more than half the original loan!) Try some of the other financial calculators. What if you were a saver instead of a borrower? Younger learners will enjoy these money managing activities: |
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