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How do I figure this out? What’s the formula?
How do I figure this out? What's the formula? Hi. I'm not great at math, but I'm trying to get a real handle on my finances/debt. Right now I'm paying off a HELOC weekly, to the tune of $600 a week ($2400 monthly). The interest rate is 8%, but of course interest is accruing daily so there's no way to pay a bunch to the principal. The balance as of today is $14,177. I'm trying to figure out,...
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