ilmscore | Prediction Details
"It's an $8,000 purchase with 25% APR and you're financing it because you don't have the $8,000 to pay it off. And now you make the minimum monthly payments or a little bit more than the minimum monthly payments. So you're paying $175 a month. Well, now what's going to happen is you're going to end up paying $17,000 in interest alone. When you add the $17,000 in interest plus the $8,000 of the credit card debt that you acquired, meaning the cost of the trip, that means it's a total cost of $25,000"
By Minority Mindset | June 26, 2025 | Pending
From video
7 Money Decisions You’ll Regret in 10 Years 00:06:39 - 00:07:09
Interpreted Prediction
Financing an $8,000 vacation at 25% APR with minimum payments could result in paying $17,000 in interest, making the total cost of the trip $25,000.

Prediction Details

Topic
Credit Card Debt on Vacations

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