Question

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Answer 1

976.34 * .1075 =104.96 so interest earned on the credit card balance at the end of the month is 104.96 dollars

in your savings 100*.0275=102.75 so interest earned on savings balance at end of month is 2.75. to give you a total of 102.75 at the end of the month

so you earn 102.75 in savings with interest added in but owe 104.96 in interest on credit card. so when you pay your 100$ on your credit card you still owe 4.96 on credit card interest earned

Answer 2

if you are only paying 100$ on your credit card balance?? 0 because you earned 104.96 in interest so is you are only paying 100$ at the end of the month you still owe 4.96 on just what interest you earned at the end of that month.

Answer 3

so sorry mis read the question!!! 976.34*.1075*(1/12)=8.75 so 976.34+8.75=985.09 balance at the end of the first month. so 100-8.75=91.25 is going to the principal. 100 is your payment and 8.75 is the monthly interest rate incurred