Question

can anyone help me fill out this chart? WILL GIVE MEDAL AND FAN!

Answer 1

not the expert but hope some of this will help
interest, I = PRT where principal, $; Rate as percent; Time in years
for the low interest card Interest = 1692.45*8.2/100* 1/12 = k
amount paid to higher interest card = 400 - k
only the interest paid on the lower card so balance remains the same. Interest same each month
for the higher interest rate card,
I = 2138.90*10.5/100*1/12= interest for month 1
the amount paid (400 - k) is applied to the interest any difference is subtracted from the principal.
for month 2 the same payment made for the lower interest card