Office of Financial Empowerment
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Maria Pays off Her Debt

 

Maria's Debts

Amount

Interest Rate

Minimum Due

Credit Card Bill #1

$1,800

23%

$36 per month

Credit Card Bill #2

$900

16%

$16 per month

Private Loan

$500

8%

$12 per month

Maria can pay $200 each month for her debts. She decides to pay the minimum amount due for all her bills, but she has some money left over.  There are two options available below, which one is the best way for her to tackle the bills? [Scroll over with your mouse to find the answer ]