Our server costs ~$56 per month to run. Please consider donating or becoming a Patron to help keep the site running. Help us gain new members by following us on Twitter and liking our page on Facebook!
Current time: March 17, 2025, 1:29 pm

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Loan Interest Payment Puzzle / Question
#29
RE: Loan Interest Payment Puzzle / Question
Even if your first solution is allowed (and I didn't anticipate flipping between loans when repaying them), it seems that paying off the smaller loan first is still advantageous.

You spend $27,166 total paying off the loans if you pay the $2k loan off first and then the $20k loan.

Using your method you spend $27,204 which is more.

It seems more and more likely that the optimal solution might be just paying off the smaller loan completely first, because compound interest of 5% really adds up after several months. I'm just not sure if any kind of split payment method would be better in terms of interest.
Reply



Messages In This Thread
RE: Loan Interest Payment Puzzle / Question - by Tiberius - May 2, 2017 at 1:29 pm

Possibly Related Threads...
Thread Author Replies Views Last Post
  [3 Switch 3 Bulb] Puzzle ErGingerbreadMandude 15 5836 July 9, 2015 at 12:20 pm
Last Post: KUSA
  Tricky Number Sequence Puzzle GrandizerII 16 6780 January 20, 2015 at 2:35 am
Last Post: Whateverist
  Blue Eyes - "The Hardest Logic Puzzle in the World" Tiberius 3 6775 March 30, 2011 at 5:34 am
Last Post: theVOID
  The 12 Coins Puzzle Tiberius 25 16839 December 13, 2010 at 6:53 am
Last Post: Alston
  The "classic" counterfiet coin puzzle jvwert 18 9779 December 7, 2010 at 12:08 am
Last Post: Rhizomorph13
  number puzzle 1-8 aufis 5 13319 April 24, 2010 at 6:44 am
Last Post: aufis



Users browsing this thread: 1 Guest(s)