Archive for March 31st, 2011
March 31st, 2011 | 
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Computer Newbie asked:
I am creating a chart in Excel to show if it is better to pay off higher interest credit cards first or if it is better to start paying the lowest balance and keep on rolling into the next lowest balance until everything is paid off. I want to show a table (similar to an amortization table in with a mortgage that shows remaining balance and total interest paid) but I want it to display how long it would take to pay off by adding X amount of dollars per month to the minimum. I started putting this together and realized it is a little over my head.
Thanks in advance for any help!
I am creating a chart in Excel to show if it is better to pay off higher interest credit cards first or if it is better to start paying the lowest balance and keep on rolling into the next lowest balance until everything is paid off. I want to show a table (similar to an amortization table in with a mortgage that shows remaining balance and total interest paid) but I want it to display how long it would take to pay off by adding X amount of dollars per month to the minimum. I started putting this together and realized it is a little over my head.
Thanks in advance for any help!
I want it to be very similar to this chart:
http://www.vertex42.com/Files/download/debt-reduction-calculator.html
Randy
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