Question

WILL GIVE MEDAL AND FAN! 2 QUESTIONS!
1. You owe $1,350.00 on a credit card with a 14.25% APR. You pay $300.00 at the beginning of the month. How much interest do you save by paying at the beginning of the month versus at the end of the month?

2. Imagine you put the $300 in a savings account earning 3.0% APR instead of using it to pay down your credit card as in Problem 3. What is the difference between the interest your savings account would earn that month vs. the interest that would accrue on your credit card that month if you didn't use the $300 to pay it down?

Answer 1

300 * 14.25/12=

Answer 2

356.25

Answer 3

oh sorry
300 * 0.1425/12 =

Answer 4

3.56

Answer 5

yes

Answer 6

ok, thanks! do you know number 2?

Answer 7

It's difficult for me to translate for my native language

Answer 8

what is your native language?

Answer 9

Ukrainian

Answer 10

or Russian

Answer 11

I know both of them

Answer 12

wow, lol. cant help there. lol. thanks for helping with the first one :)

Answer 13

you well come