RE: Loan Interest Payment Puzzle / Question
May 2, 2017 at 1:40 pm
(This post was last modified: May 2, 2017 at 1:43 pm by TheRealJoeFish.)
Ah yes you are right! I didn't calculate right, and then I put the right calculation into my "answer" but preserved the incorrect calculation in my head!
Yes, and I misapplied what CD said too - switching shouldn't matter, because if you leave 100 in the small account, you're getting charged $5 (compounded) on that every month, whereas any $100 portion of the big account is costing you only $3 per month.
So, yes. I agree. And then I think you've answered your other question too - even if you can split funds, still just pay off every high-interest dollar before any low-interest dollar.
Yes, and I misapplied what CD said too - switching shouldn't matter, because if you leave 100 in the small account, you're getting charged $5 (compounded) on that every month, whereas any $100 portion of the big account is costing you only $3 per month.
So, yes. I agree. And then I think you've answered your other question too - even if you can split funds, still just pay off every high-interest dollar before any low-interest dollar.
How will we know, when the morning comes, we are still human? - 2D
Don't worry, my friend. If this be the end, then so shall it be.
Don't worry, my friend. If this be the end, then so shall it be.
