You owe $2,348.62 on a credit card with an 8.75% APR. You pay $300.00 toward the card at the beginning of the month and another $300.00 in a savings account at a 3.25% APR. What is the difference in interest accrued if you had paid $600.00 toward the card instead of $300.00?

Using the information from Problem 3, how many months will it take you to pay off your debt if you pay at least $600.00 at the beginning of each month? Include the last month even if the payment is less than $600.00.

Question

You owe $2,348.62 on a credit card with an 8.75% APR. You pay $300.00 toward the card at the beginning of the month and another $300.00 in a savings account at a 3.25% APR. What is the difference in interest accrued if you had paid $600.00 toward the card instead of $300.00? 

Using the information from Problem 3, how many months will it take you to pay off your debt if you pay at least $600.00 at the beginning of each month? Include the last month even if the payment is less than $600.00.