You are two hours into your meeting with Albert and his final questions revolve around his credit card balance and a SMART goal related to all of the information you have provided to him from your analysis.

His credit card company isnt the greatest at telling Albert how much interest he is paying each month and he asks for your help. His most recent statement indicates an APR of 16.5% with interest compounding monthly. His current balance is $4,500, but he is about to make his regular monthly payment of $200.

How much interest will Albert incur the FOLLOWING month after he makes his next regular payment assuming he makes no additional charges on the card?

After he has made this next payment and in order to save some money for the down-payment to start his business Albert wonders two things:

How many months will it take him to pay off his credit card if he continues paying at his current monthly rate?

How many months will it take him if he makes only the minimum payment of $75 per month?

Albert is incredibly thankful for all of your help today and you only have one more item to present to him before calling it a day.

Develop one SMART goal for Albert based upon all of the information you have collected and analyzed over the course of your visit with Albert.

What is the difference between a tax deduction and a tax credit?