Question: Amy Summers Debt Management Assignment Using the information provided below and credit payoff tool Download credit payoff tool, identify a debt repayment plan to be

 Amy Summers Debt Management Assignment Using the information provided below and

credit payoff tool Download credit payoff tool, identify a debt repayment plan

Amy Summers Debt Management Assignment Using the information provided below and credit payoff tool Download credit payoff tool, identify a debt repayment plan to be presented to Amy. The final plan should be entered in to the debt payoff template. Download debt payoff template with Action Steps for Amy to follow. Amy Summers has come to your office for advice regarding a debt repayment plan. Amy is a single mom who recently completed nursing school. Unfortunately, she supported herself and her child largely through use of debt while she was attending school and could work only part time. Now that she has finished school, she is earning enough to live comfortably and can put some extra money toward paying off her debts instead of just paying the minimum payments each month as she has been doing over the past several years. Amy would like you to help her develop a repayment plan that will achieve two specific goals: 1) minimize the amount of interest paid, and 2) pay off her debts as quickly as possible. The following is a list of Amy's current debts. Amy believes that she can pay a total of $785 per month toward her debts. Walmart credit card: Current balance is $3.275 Interest rate of 12.99% Minimum payment is $46.50 Amy Summers Debt Management Assignment Using the information provided below and credit payoff tool Download credit payoff tool, identify a debt repayment plan to be presented to Amy. The final plan should be entered in to the debt payoff template. Download debt payoff template with Action Steps for Amy to follow. Amy Summers has come to your office for advice regarding a debt repayment plan. Amy is a single mom who recently completed nursing school. Unfortunately, she supported herself and her child largely through use of debt while she was attending school and could work only part time. Now that she has finished school, she is earning enough to live comfortably and can put some extra money toward paying off her debts instead of just paying the minimum payments each month as she has been doing over the past several years. Amy would like you to help her develop a repayment plan that will achieve two specific goals: 1) minimize the amount of interest paid, and 2) pay off her debts as quickly as possible. The following is a list of Amy's current debts. Amy believes that she can pay a total of $785 per month toward her debts. Walmart credit card: Current balance is $3.275 Interest rate of 12.99% Minimum payment is $46.50

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!