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Appendices > Chapter 7: Payoff Calculator

Chapter 7: Payoff Calculator

The Credit Card Payoff Calculator from Chapter 7, “Getting the Most from Your Credit Cards,” helps you calculate how much interest you will save by paying off a credit card balance now instead of paying it off over time. This calculator, shown in Figure A.10, has three inputs: the amount you owe, the interest rate the card charges, and the amount you propose to pay each month.

Figure A.10. The Credit Card Payoff Calculator shows you how much you will save by paying off a credit card balance now.



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