Saturday, November 23, 2024

Scott Bilker
Household Math™: A penny paid is more than a penny earned
by Scott Bilker
 
Scott Bilker is the author of the best-selling books, Talk Your Way Out of Credit Card Debt, Credit Card and Debt Management, and How to be more Credit Card and Debt Smart. He's also the founder of DebtSmart.com. More about and DebtSmart can be found in the online media kit.

Test your knowledge by trying to solve this DebtSmart, Household Math™ problem! After you complete the problem, you’ll get the solution and explanation.
 
1. How much is a penny really worth? When it comes to repaying debt it is certainly true that every penny counts! Say you have a $100,000 mortgage at 7% for 30 years. The monthly payment is $665.30. How much money would you save by adding just one cent to your monthly payment?
$3.60
$8.80
$26.20
$125.10
I don't know!



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