Question

Sydney has been paying the minimum balance on her three credit cards each month. She has outlined the minimum payments for the next four months. She decides to snowball her debt after Month 1 according to the interest rate instead of paying the minimum payment.

Part 1 (2 points): Explain, using complete sentences, how the total monthly payment will change for each month.

Part 2 (2 points): Explain, using complete sentences, how the payments for each credit card will change for each month.

Answer 1

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