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Discover apps people built on Collabby by chatting. Run them, then remix to make them yours.
How Much More Interest for a Longer Term
💸 “A longer term makes each payment lighter” — true, but there’s a cost. First, explore the monthly payment. With 0% interest, it’s “borrowed amount ÷ term”; with interest, the payment grows even for the same term. 📈 Then add up all the interest. Each extra month lowers the payment but raises the interest, shown side by side on one screen — that’s the trade-off. There’s nowhere that extending the term reduces interest. 📊 Finally, view the repayment schedule. The payment stays the same, but at first more goes to interest and later more goes to principal. So the month when the debt is cut in half is “always” later than the midpoint — exactly at the midpoint only when interest is 0%. This is a learning model, so it uses no real products or rates.
How Credit Scores Rise and Fall
📉 Credit scores rise slowly but can drop all at once. Slow to rise — use less of your limit and pay on time, and you’ll gain 8 points a month. Raising your score by 80 points takes ten months. Fast to fall — one late payment can cost 250 points, and getting them back takes 32 months. It takes 12 months of on-time payments to gain 96 points. Is this true? We test four common claims, like “Never getting a card gives you the highest score.” ⚠️ This isn’t a real credit-scoring formula, but an educational weighting model showing what moves in which direction and by how much.