 have 10,900 in credit card with an interest rate of 9.99 percent. I make 600 dollars monthly payments.  how much will i owe by the end of 2024 



To calculate how much you will owe by the end of 2024, we need to factor in the following details:

- **Principal**: $10,900
- **Interest rate**: 9.99% annually (converted to monthly interest rate)
- **Monthly payment**: $600
- **Time period**: 16 months (assuming it is now September 2023)

Let’s calculate how the balance will reduce over time with monthly compounding interest and fixed payments.

I’ll calculate it now.By the end of 2024, if you continue making monthly payments of $600, you will owe approximately **$2,222.82** on your credit card.

Do you want any more details on how the calculation was done, or do you have other questions?

Here are 5 related questions to consider:
1. How can paying more each month reduce the remaining balance faster?
2. What would be the total interest paid by the end of 2024?
3. How long would it take to completely pay off the debt with this payment plan?
4. How would a higher interest rate impact your remaining balance?
5. Is it better to focus on paying off this debt or save at the same time?

**Tip**: Making extra payments or paying more than the minimum can significantly reduce the total interest paid over time.

I have 10,900 in credit card debt with an interest rate of 9.99 percent. I make 600 dollars monthly payments. How much will I owe by the end of 2024?

Find out how much you'll owe on a $10,900 credit card balance with a 9.99% interest rate after making $600 monthly payments by the end of 2024. Learn how compound interest and loan amortization affect your balance, and get step-by-step guidance on the math involved.

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