Debt Table

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Debt Type Credit Card Personal Line of Credit

Amount $6000 $6000


Interest Rate 19.75% 7%
Minimum Monthly Payment $120 $180
Time to Pay Off (Minimum
Monthly Payment)
Over 300 months 156 months
Total Interest Cost (Minimum
Monthly Payment)
Over $18,264 $1406
Fixed Payment (amount I can
afford)
$400 $400
Time to Pay Off (Fixed Payment) 18 Months 16 months
Total Interest Cost (Fixed
Payment)
$948 $297

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