Loan Interest Payment Puzzle / Question

[Tiberius]

Tazzy I don't think your calculations are correct, but I'm not sure where it's gone wrong.

Steel's first result matches mine but I think he has a bug when he calculated the second result (paying off the larger loan first) because somehow the interest for that loan ends up being higher than the first result which makes no sense.

My results:

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If you pay off the $2k loan first, you pay $5166 in total interest payments.

If you pay off the $20k loan first, you pay $6002 in total interest payments.

So paying the smaller high interest loan first is better.

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