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 Wednesday, September 20, 2017
 Articles about "Household Math" <1 to 10 out of 58 articles>
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 Submit a Household Math™ Question by Scott Bilker Do you have a really good Household Math™ question? Whether it's a problem that you want to share or a problem that you need the answer to we are interested!
 Household Math™: Minimum Payment Balance by Scott Bilker Jeff owes Visa \$2,500. The credit card company has an interest rate of 19.6% APR. The company requires a minimum payment of 2% of the unpaid balance, rounded to the nearest dollar. Jeff makes no additional purchases with this credit card and makes only one minimum payment monthly.How long will it take him to pay off \$500 on the \$2,500 balance?
 Household Math™: Sale or gas savings? by Scott Bilker How much are you really saving to be there for that sale? This is a true situation at our house. My wife drives a Dodge Ram, it gets 12 mpg (miles per gallon). Gas in our area is \$2.45 per gallon. The mall is 18 miles each away. If she cuts back and only goes to the mall once a week, instead of twice a week, how much would she save in one year? (Steve, DebtSmart Reader, submitted this question.)
 Household Math™: How Much House by Scott Bilker Sandy finds a bank willing to give her a 30-year, fixed-rate mortgage. They require her to give a 20% down payment on the purchase of her home. The interest rate (APR) is 8.4%, and she must pay 1.5 points, which will be rolled into the mortgage. After property taxes, PMI, etc., Sandy can afford \$1,500 per month on the mortgage payment. What is the maximum price of the home that she can purchase?
 Household Math™: Working for Gas by Scott Bilker You work full time. That's five days per week (8 hours per day). The commute to work is 100 miles (round trip) each day. You average 25 miles per gallon. Fuel costs \$4.05 per gallon. How much of your net hourly pay goes to fueling your car?
 Household Math™: Dollars Saved Per Hour by Scott Bilker Jack read Scott Bilker's book, Talk Your Way Out of Credit Card Debt and put the call strategies to use. He called his Citibank card and got a \$49 annual fee waived! The call took 17 minutes. If Jack could get that result from all his calls, then how much could he save, on average, per hour from calling his credit card banks?
 Household Math™: Cash Advance Savings by Scott Bilker Scott, I have an offer to write a check in any amount at 1.99% APR with a 3% fee of the check. I would like to make a transfer to a credit card for \$3,400.00 on which I am now paying 11.24% interest. I’m currently paying \$100.00 per month toward this debt. After adding the 3% fee, how much I will save by doing this? I would appreciate any help or insight to my question. Thank you. Sandra
 Household Math™: Compounded Daily vs. Monthly by Scott Bilker You have \$10,000 that you want to deposit in a money market account. Both accounts pay 5% APR (Annual Percentage Rate). One account is compound 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?
 Household Math™: LTV by Scott Bilker A lender agreed to make a loan based on a purchase price of \$250,000 with a 90% LTV. If the property appraises for \$250,000, what is the mortgage amount?
 Household Math™: Before the tip by Scott Bilker Rachel was telling Jack about her romantic date with Dave. Jack is a man that is more concerned with the cost of the frolic then the details of their amorous evening. Jack asked Rachel how much the tab was for food only. 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?
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