Hi, I have a high-interest rate store credit card and I owe $3000.Can you tell me how much I would need to pay each month to get this paid off this year?. This is the only debt I have. The interest rate is 25 percent. I want to be able to at least see it go down a little each month. I would really like to pay this off by late summer.
Thanks for taking my question.
You would need to pay $285.13 per month to pay off the debt in a one-year period as long as you don’t put any more charges on it.
See the calculation below.
I hope you achieve this goal. You can do it!
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