How much interest will you pay on an account that has a balance of 2033.35 at 3.99 and a balance of 37.55 at 8.91 if your payment is 200.00 and the lower interest rate has to be paid off first?

Answer 1

Approximately $45 if you continue to pay $200 every month until payoff (assuming this is a credit card, this is based on ignoring the ever-decreasing minimum requested), and do not add to the principle balance with either more purchases or fees.