Please help me with math!!!
You owe $976.34 on a credit card that has an interest rate of 10.75% APR. You pay $100.00 at the end of each month.
You place the $100.00 in a savings account that earns a 2.75% APR. What is the difference in interest between savings earned and credit card interest paid. and then
How much is paid toward the credit card principal at the end of the first month?

Question

Please help me with math!!!
You owe $976.34 on a credit card that has an interest rate of 10.75% APR. You pay $100.00 at the end of each month.
You place the $100.00 in a savings account that earns a 2.75% APR. What is the difference in interest between savings earned and credit card interest paid. and then
How much is paid toward the credit card principal at the end of the first month?

anonymous · Answer

Someone please help me!!

tkhunny · Answer

The first question makes no sense.  It needs a time period.

976.34 * (0.1075/12)
100.00 * (0.0275/12)