Question

You owe $1,534.09 on a credit card that has an interest rate of 15.7% APR. You decide to put $250.00 into a savings account earning a 3.5% APR and another $500.00 toward the credit card at the beginning of the month. What is the difference in interest saved at the end of a full month between this decision and if you had paid the entire $750.00 toward the credit card?

Answer 1

if you paid entire 750 toward credit card:
\[Interest = 750*(.157/12)\]
if you put 250 in savings
\[Interest = 500*(.157/12)+250(.035/12)\]
difference
\[= 250*\frac{.157-.035}{12}\]

Answer 2

-4.02 is that the answer?

Answer 3

no

Answer 4

wold it be 9.81- - 4.02?

Answer 5

the 4.02 part is wrong

Answer 6

what is the interest for that one?

Answer 7

7.27

Answer 8

so it would be 9.81- 7.27

Answer 9

can you give me the answwer for this question cuz its getting late and imma have to go to bed in a lil bit.

Answer 10

"so it would be 9.81- 7.27"

this is correct

Answer 11

but whats the answr to thequestion