# Phoenix

### Debt Plan

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

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

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

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

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.