Debt Interest Rate Current Balance Minimum Payment MasterCard 19.9% $600 $22...
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Accounting
| Debt | Interest Rate | Current Balance | Minimum Payment |
|---|---|---|---|
| MasterCard | 19.9% | $600 | $22 |
| Visa | 23.95% | $2,545 | $60 |
| Car | 4.8% | $16,800 | $465 |
| Student Loan | 6.8% | $18,400 | $220 |
| Electronics Store | 22.65% | $1,015 | $29 |
| Loan from Dad | 0% | $3,000 | $20 |
| Knee Surgery | 6.2% | $5,000 | $100 |
The above are debts you owe, the annual interest rate for those debts and the monthly payment. If you only make a debt payment of $1,200 each month, how much total interest will you pay over the life of your loans if you use a debt avalanche method.
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