Unformatted text preview: interest. If I only paid the minimum monthly payment on my credit card, then it would take me 273 months to pay off my debt. In that time, I will pay 6,923.14 dollars in interest. I would take me five times as long to pay off my debt, if I were to only make my monthly payments. It would also cost me more than three times more money in interest. Overall, I think it is better to pay the higher monthly amount....
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- Spring '10
- Payment, Credit card, credit card debt