how long will it take to pay it off?

Exercise 4 Instructions

1. Pick any 2 calculators at http://www.bankrate.com/calculators.aspx. Paste the information entered and your results into a Microsoft Word document, and attach it in the assignment link. Make sure that you list the title of the calculator, and ensure there is a clear separation between the 2 calculators. The primary purpose of this assignment is learning how to enter the correct information and get the desired results. You can use your own information or make up assumptions to put into the 2 calculators.

2. Go to Zillow for a free estimate of the value of a house (you can use your address or any address). Put the selected address and value in the textbox section in the assignment link. Remember that this is just a rough estimate.

3. Use time value of money (your financial calculator or Excel as you did in Module/Week 2) to answer the following question:

I have $3,000 in credit card debt. If I can pay $150.00 a month, how long will it take to pay it off? My current interest rate is 18%.  Remember to include your inputs and round 2 decimal points like we did in module 2.

Submit this assignment by 11:59 p.m. (ET) on Monday of Module/Week 4.

 

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