Use sydney's minimum payment summary to answer the statements that follow.
sydney's minimum p...
Mathematics, 30.11.2019 01:31 juana18
Use sydney's minimum payment summary to answer the statements that follow.
sydney's minimum payment summary
card a card b card c total
month (19% (23% (21% monthly
apr) apr) apr) payment
1 $32.19 $43.43 $50.28 125.90
2 $30.83 $41.79 $48.98 $121.60
3 $28.65 $38.67 $46.14 $113.46
4 $26.31 $36.12 $43.98 $106.41
sydney has been paying the minimum balance on her three credit cards each month. she has outline 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 one: explain how the total monthly payment will change for each month.
part two: explain how the payments for each credit card will change for each month.
Answers: 2
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