Quick Credit Facts

We all have credit cards, but do we pay our entire balances off each month or do we make the minimum payments? Here are some credit facts on making minimum monthly payments.

A $5,000 monthly balance at 18% interest, making the minimum monthly payment of 2.5% which is $125 per month will take 313 months (26.08) years to get out of debt. The interest alone is $7,115.42 plus the original $5,000 monthly balance equals a grand total of $12,115.42.

A $10,000 monthly balance at 18% interest, making the minimum monthly payment of 2.5% which is $250 per month will take 382 months (31.8) years to get out of debt. The interest alone is $14,615.49 plus the original $10,000 monthly balance equals a grand total of $24,615.49.

Both examples assume of course there are no other charges made to the card.

Questions or comments write or email:
eugenedougherty@howardhanna.com
http://www.eugenedougherty.howardhanna.com/
YOUR Personal Guide to Real Estate

Natural Gas Rates

Stow and Munroe Falls announced natural gas rates today. The rates, effective from November 2008 through April 2009 will be fixed. The gas is supplied by Vectron Source.

Munroe Falls residents will pay $15.128 per mcf compared to last years rate of $9.38 per mcf. This is an increase of 61%. Stow residents will pay $15.128 per mcf compared to last years rate of $9.59 per mcf. This is an increase of 57%.

Natural gas closed today, 07-17-08, on the commodity futures exchange at $10.62.

Questions or comments write or email:
eugenedougherty@howardhanna.com
http://www.eugenedougherty.howardhanna.com/
YOUR Personal Guide to Real Estate