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All financial calculators are provided by a third-party and are not controlled by or under the control of Fifth Third Bank, its affiliates or subsidiaries. Fifth Third Bank is not responsible for the content, results, or the accuracy of information. These calculations are hypothetical examples designed to illustrate the impact compounding can have.
Bump that up to a 17 percent interest rate, and you pay $13,600 in interest – plus, it would take an extra year to be out of debt, according to Bankrate.com’s calculator (bit.ly/2v4vaMm). Experts say.