You have $400.00 each month to pay off these two credit cards. you decide to pay only the interest on the lower-interest card and the remaining amount to the higher interest card. complete the following two tables to you answer questions 1–3.
card name (apr %) existing balance credit limit
mark2 (6.5%) $475.00 $3,000.00
bee4 (10.1%) $1,311.48 $2,500.00
i need getting started on this, im a bit confused as where to start.
higher-interest card (payoff option)
month 1 2 3 4 5 6 7 8 9 10
principal
interest accrued
payment (on due date)
end-of-month balance
i really need , i'm not asking for the whole thing to be done, just need getting started.