What is the minimum amount of interest I need to pay?

Annual interest and $5,000 on another credit

I owe $10,000 on one credit card that charges 18 percent annual interest and $5,000 on another credit card that charges 12 percent annual interest. Interest for the month is based on the month beginning balance. I can afford to make total payments of $2,000 per month and the minimum monthly payment on each card is 10 percent of the card’s unpaid balance at the beginning of the month. My goal is to pay off both cards in 2 years. What is the minimum amount of interest I need to pay?

Answer

Are you looking for a similar paper or any other quality academic essay? Then look no further. Our research paper writing service is what you require. Our team of experienced writers is on standby to deliver to you an original paper as per your specified instructions with zero plagiarism guaranteed. This is the perfect way you can prepare your own unique academic paper and score the grades you deserve.

Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.