Present Value 13,000 PV Payments 585.30 PMT Future Value FV Annual Rate% 29 RATE Periods 32.225 PERIOD Compounding Monthly To pay off the account twice as fast, the required payment will be ~$585, as you can see - indeed "more than her current payment of $400, but less than $800". I entered the number of periods / months as exactly half of 64.45, but if you entered 32 or 32.5, the answer will be a few dollars off and will still be accepted as correct. I promised you some more good news for Cardi, and here it is - in order to pay off the debt twice as fast, she actually doesn't need to throw twice as much money into the account - she can get away with paying less than that! It's pretty good news for people who are trying to get our of debt faster. Let's come back to the starting payment scenario again: The fact that it'll take Cardi ~64 months (5 years and 4 months!) to pay this thing off stresses her out. Cash is tight Present Value 13,000 though, and she can't dedicate any more than $400 to her monthly payments. She really really wishes she was out of Payments -400 debt in 3 years though. What's a girl to do? This is where you get an idea - what if Cardi called her credit card company and requested an interest rate low enough to pay off the balance in 3 years? What interest rate does Cardi need to get, in order to accomplish this goal? Annual Rate% 29 PV PMT Future Value FV RATE Periods 64.45 PERIOD Compounding Monthly