the cruelty of small debts, compounded
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to edit this doc, just hit MAKE A COPY on the File menu
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(see the companion chart from saving the money here:
https://docs.google.com/spreadsheets/d/1O3BNzLJ8S_wFBagsvfHO8W0rynyYbqcZJopewkJ1oPw/edit#gid=0
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Discretionary spend per day
$7.00
Thank you Peter!
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Days per year365
Total debt in 30 years
$1,269,812<-------
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Increased annual debt$2,555
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Credit card rate19%
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1$2,555$485
<---this column shows the interest per year
(and worth noting that I gave the borrower a year of interest-free debt to get him or her started!)
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2$5,110$971
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3$8,150$1,549
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4$11,676$2,219
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5$15,780$2,998
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6$20,553$3,905
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7$26,107$4,960
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8$32,567$6,188
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9$40,082$7,616
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10$48,825$9,277
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11$58,995$11,209
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12$70,827$13,457
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13$84,591$16,072
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14$100,603$19,115
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15$119,231$22,654
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16$140,900$26,771
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17$166,109$31,561
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18$195,435$37,133
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19$229,551$43,615
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20$269,238$51,155
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21$315,408$59,928
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22$369,118$70,132
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23$431,601$82,004
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24$504,288$95,815
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25$588,848$111,881
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26$687,217$130,571
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27$801,653$152,314
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28$934,780$177,608
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29$1,089,649$207,033
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30$1,269,812$241,264
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