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FirstMerit Mortgage Refinance Calculator
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The Credit Card Roll-down
Calculator applies two simple principles to paying off your credit
card debt.
- Payoff your highest interest rate first.
- When a card balance is paid in full, apply its monthly payment
to the card with the next highest interest rate.
To see how this can be applied to your credit
card debt, enter your credit card balances and an additional Roll-down
amount. The calculator
will then apply your additional monthly payment to the credit card
with the higest rate. When that credit card is paid in full, the
card with the next highest rate will be paid down. This continues
until you have rolled through all of your credit cards and your debt
is paid in full. Click the "View Report" button for a detailed look
at the results. |
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