Math question: What is my my ETF if I cancel during the 19th month of 2-year contract?

centerwaters

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May 2, 2012
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I have a math question. I've never been very good at math, so I'd like some help.

This is taken from Verizon. Under ETF, it says:

" If your contract term results from your purchase of an advanced device on or after November 14, 2014, your early termination fee will be $350, which will decline by $10 per month upon completion of months 7–17, $20 per month upon completion of months 18–22, $60 upon completion of month 23 and will be $0 upon completion of the contract term.
Customer Agreement | Verizon Wireless

It's this sentence that got me confused: " decline by..... $20 per month upon completion of months 18–22"

Based on that, are the following correct?

(month cancelled, ETF owed)
01 $350
02 $350
03 $350
04 $350
05 $350
06 $350
07 $340
08 $330
09 $320
10 $310
11 $300
12 $290
13 $280
14 $270
15 $260
16 $250
17 $240
18 $220
19 $200
20 $180
21 $160
22 $140
23 $120
24 $60
 

centerwaters

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May 2, 2012
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My parents switched carriers with 4 months left on the contract and got EFT $160 a piece.

The panda has spoken

Now that's just freaky... I'm having Panda Express for dinner tonight.
I just put my food on my table and opened up this thread. Guess I
should really listen to the Panda. :)
 

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