I help my 82-year-old mother pay many of her credit card bills. She’s scared to call the credit card companies, and I don’t want to be added as an authorized user or they will show up on my credit report. Is there a service that she can give a power of attorney to that will call the credit card companies on her behalf? Currently, she is NOT past due on any credit cards–but that will change if we can’t reduce these interest rates. Thanks!

This question from a DebtSmart Reader, Margie: I purchased property for $27,515.00 at 7.5% for 8 years on a semiannual payment of $2318.00. The first year, three payments were made of $2,318.00; we have paid three years so far. This year, on our due date, we would like to pay off the mortgage. What will be the amount due? ($16,965; $18,695; $21,297; or $22,297) NOTE: Assume that the third payment in year one was made with the second payment.

Rachel was telling Jack about her romantic date with Dave. Jack is a man that is more concerned with the cost of the frolic than the details of their amorous evening. Jack asked Rachel how much the tab was for food only (tax included). Rachel was too focused on Dave to remember the amount for the actual dinners, but she did remember tipping the waiter 16% and that the final bill, tip included, was $159.50. Jack was quite amazed that Rachel would remember so much, but not recall the cost of the dinner before the tip. Of course, Jack knows his math and can easily figure it out. Can you? What is the cost of the dinner before the tip? ($137.50, $140.25, or $142.25)

You have $10,000 that you want to deposit in a money market account. You have a choice between two accounts. Both accounts pay 5% APR (Annual Percentage Rate). One account is compounded daily, meaning that interest is paid daily to the account. The other is compounded monthly meaning that interest is paid monthly. After one year, how much more is earned by depositing the money in the account that is compounded daily? ($1.05, $10.05, $100.05, or $1,000.05)

To quote the very well-known motivational speaker, Anthony Robbins, ‘Questions are the answer.’ What exactly does he mean? Tony believes, as do I, that you have the ability to find the answer to any question. They key is to ask the right questions.

Here are two mortgages: (Loan 1) Standard mortgage for $166,792 at 6% for 30 years with monthly payments of $1,000.00 or (Loan 2) A biweekly mortgage for $166,792 at 6.1% for 25 years with biweekly payments (once every two weeks) of $500. Which mortgage is better? (Note: There are no prepayment penalties for either loan. Meaning that you can pay as much as you wish, at anytime, without penalty.)

If I have a current mortgage balance of around $66,150 at 8.25% fixed rate, monthly payments, with 21 years left on a 30 year mortgage, How much do I save if get a 15 year mortgage at 4.85% fixed rate, biweekly payments, with $10,190 of credit card debt added which is currently at 9.99%?

Three men checked into a hotel room and were charged $30 for which they paid $10 each. The next day, the manager realized that the men had been overcharged since the real price is $25 for the room. The manager gave the bellhop $5 to return to the three men. On the way to their room the bellhop decided to keep $2 for himself so he wouldn’t have to make change. The bellhop gave $1 to each man. The three men had now paid $9 each, or a total of $27. This, plus the $2 the bellhop kept for himself, makes a total of $29. What happened to the other dollar?

My son purchased a car for $15,000 at a high rate of interest. He’s been paying for 32 months and he still owes $11,000. He has just been laid off and to top it off the car has blown the engine. I would like to help him pay the loan off to keep his credit rating but would like to negotiate the amount down. What are the chances? Would he be better off to let it be repossessed? This would be to nobody’s advantage. Please advise.

I want to begin this chapter with a personal story. My father asked me to help him pick out a new car. After visiting several new car dealers in the area we finally found one with a car that had the price and features we were looking for. Once the negotiations were complete, and the price was agreed upon, it was time for the dealership to add in those extras such as; tags, processing fees and anything else they could.