| A | B | C | D | E | F | G | H | I | J | |
|---|---|---|---|---|---|---|---|---|---|---|
1 | Debt Reduction Calculator – Exercise 5.2 | © 2007-2018 Vertex42 LLC | Strategies | |||||||
2 | By Vertex42.com | HELP | Snowball (Lowest Balance First) | |||||||
3 | Avalanche (Highest Interest First) | |||||||||
4 | Balance Date: | 01/01/2018 | Stair-Stepper | |||||||
5 | Order Entered In Table | |||||||||
6 | Creditor Information Table | No Snowball | ||||||||
7 | Row | Creditor | Balance | Rate | Payment | Custom | Interest-only | Custom - Highest First | ||
8 | 1 | Card #1 | 4,400.00 | 13.000% | 60.00 | 1 | 47.67 | Custom - Lowest First | ||
9 | 2 | Auto Loan #1 | 3,200.00 | 9.810% | 30.00 | 2 | 26.16 | |||
10 | 3 | Auto Loan #2 | 5,000.00 | 12.000% | 55.00 | 3 | 50.00 | Getting Started | ||
11 | 4 | Card #2 | 9,000.00 | 13.500% | 110.00 | 5 | 101.25 | See the Help worksheet for instructions. | ||
12 | 5 | Student Loan #1 | 4,900.00 | 4.000% | 25.00 | 4 | 16.34 | |||
13 | 6 | 0.00 | Note: This calculator only allows up to 10 creditors. | |||||||
14 | 7 | 0.00 | For more, get the extended version. | |||||||
15 | 8 | 0.00 | ||||||||
16 | 9 | 0.00 | ||||||||
17 | 10 | 0.00 | ||||||||
18 | Total: | 26,500.00 | Total: | 280.00 | ||||||
19 | ||||||||||
20 | Monthly Payment | 800.00 | . | |||||||
21 | Initial Snowball | 520.00 | ||||||||
22 | ||||||||||
23 | Strategy: | Order Entered In Table | 4 | |||||||
24 | TRUE | |||||||||
25 | Results are only estimates | |||||||||
26 | Creditors in | Original | Total Interest | Years to | Month Paid | |||||
27 | Chosen Order | Balance | Paid | Pay Off | Off | |||||
28 | Card #1 | 4,400.00 | 216.31 | 8/12 | Sep 2018 | . | ||||
29 | Auto Loan #1 | 3,200.00 | 290.21 | 1 2/12 | Mar 2019 | . | ||||
30 | Auto Loan #2 | 5,000.00 | 877.49 | 1 10/12 | Nov 2019 | . | ||||
31 | Card #2 | 9,000.00 | 2,774.44 | 2 10/12 | Nov 2020 | . | ||||
32 | Student Loan #1 | 4,900.00 | 578.98 | 3 4/12 | May 2021 | . | ||||
33 | 0.00 | 0.00 | - | . | ||||||
34 | 0.00 | 0.00 | - | . | ||||||
35 | 0.00 | 0.00 | - | . | ||||||
36 | 0.00 | 0.00 | - | . | ||||||
37 | 0.00 | 0.00 | - | . | ||||||
38 | Total Interest Paid: | 4,737.43 | (Lower is Better) | |||||||
39 | ||||||||||
40 | Debt Reduction Calculator by Vertex42.com | |||||||||
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