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<<I decided to
set a goal for myself of 24 - 36 months. Then I divided the current balance(s) by 36. My question is this: should I have included the current interest rate
in this formula? >>

If you include the interest, you may find it will take you a lot longer to pay back the debt. The formula is somewhat long, but here it is:

Principal /[1/i- 1/(i*(1+i)^36)] = Payment

i = interest rate/12

If the math is a bit scary, you can use Quicken or an amortization table that your bank can give you to calculate what you need to pay. What makes the math so complex is the interest is accruing on the balance, which declines each period (or hopefully does).

Hope I helped clarify things,
George

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