For anyone listening, remember the rule of 72's at least.
Divide 72 by your interest rate (in %) to see how long it will take your original debt to double if you don't pay it off. At 18% interest, your credit card bill balance would double in four years, for instance.
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Date: 22 Sep 2010 22:40 (UTC)Divide 72 by your interest rate (in %) to see how long it will take your original debt to double if you don't pay it off. At 18% interest, your credit card bill balance would double in four years, for instance.