# Phoenix

## Visa - \$6,750 - 19.8% APR

N=24 N=24

I%=19.8 I%=19.8

PV=\$-6,750 PV=\$-3000

PMT=?\$-342 PMT=0

FV=0 FV=?\$4,443.23

P/Y=12 P/Y=12

C/Y=12 C/Y=12

Phoenix would need to make \$342.89 per month for two years in order to be able to afford her debt on her Visa for \$6,750 with 19.8 APR.

## Mastercard - \$8,267 - 16.5% APR

N=24 N=24

I%=16.5 I%=16.5

PV=\$-8,267 PV=\$-3,000

PMT=?\$-406.76 PMT=0

FV=0 FV=?\$4,163.53

P/Y=12 P/Y=12

C/Y=12 C/Y=12

Phoenix would need to make \$406.76 per month for two years to be able to afford her debt on her Mastercard for \$8,267 with 16.5% APR.

## Gas Card - \$1,579 - 22.65% APR

N=24 N=24

I%=22.65 I%=22.65

PV=\$-1,579 PV=\$-3,000

PMT=?\$-82.42 PMT=0

FV=0 FV=?\$4,699.19

P/Y=12 P/Y=12

C/Y=12 C/Y=12

Phoenix would have to pay \$82.42 per month for two years. Therefore, she can afford this debt on her Gas Card at \$1,579 at 22.65% APR.

## Department Store Card - \$3,345 - 21.99% APR

N=24 N=24

I%=21.99 I%=21.99

PV=\$-3,345 PV=-\$3,000

PMT=?\$-173.52 PMT=0

FV=0 FV=?\$4,638.69

P/Y=12 P/Y=12

C/Y=12 C/Y=12

Phoenix would have to pay \$173.52 per month for two years. This means, she can afford this debt on her Department Store Card for \$3,345 at 21.99% APR.