managing credit\ncalculate: debt avalanche v. debt snowball\nyoure deep in debt. the good news? youve…

managing credit\ncalculate: debt avalanche v. debt snowball\nyoure deep in debt. the good news? youve stopped borrowing and are ready to face it head - on. the big question now is how youll go about paying it off\nyour monthly debt obligations\ndebt type amount interest rate monthly payment\ncredit card $12,000 26.9% based on your balance\nprivate student loan $25,745 10.5% $347\nauto loan $10,392 5.59% $410\nmortgage $100,197 7.08% $750\npart i: reviewing debt plans\n1. go to the debt repayment calculator and enter the above information. then, click \next step\\n - for credit cards, be sure to toggle the \this is a credit card\ button so the monthly payment is calculated correctly\n2. what is your total debt?\n3. what is your minimum monthly payment?\n4. lets assume you can pay an extra $100 per month. enter $100 for step 2, then move to step 3.

managing credit\ncalculate: debt avalanche v. debt snowball\nyoure deep in debt. the good news? youve stopped borrowing and are ready to face it head - on. the big question now is how youll go about paying it off\nyour monthly debt obligations\ndebt type amount interest rate monthly payment\ncredit card $12,000 26.9% based on your balance\nprivate student loan $25,745 10.5% $347\nauto loan $10,392 5.59% $410\nmortgage $100,197 7.08% $750\npart i: reviewing debt plans\n1. go to the debt repayment calculator and enter the above information. then, click \next step\\n - for credit cards, be sure to toggle the \this is a credit card\ button so the monthly payment is calculated correctly\n2. what is your total debt?\n3. what is your minimum monthly payment?\n4. lets assume you can pay an extra $100 per month. enter $100 for step 2, then move to step 3.

Answer

Explanation:

Step1: Calculate total debt

Add up the amounts of all debts. $12000 + 25745+10392 + 100197=148334$

Step2: Calculate minimum monthly payment

Add up the given monthly payments. The credit - card monthly payment is not given, but we add the others. $347+410 + 750=1507$

Answer:

  1. The total debt is $148334$.
  2. The minimum monthly payment (excluding the unspecified credit - card payment) is $1507$.