Business, 15.11.2019 05:31, anna4060

The concept of "power payments" will you repay your loans faster and reduce your total interest payments. consider a situation where you have 3 loans:
loan a has a loan payment of $500/month and an interest rate of 5% apr;
loan b has a payment of $200/month and an interest rate of 3% apr;
loan c is a credit card with a payment of $300/month and interest rate of 18% apr.
you just made the final payment on your auto loan (loan a). what should you do with the $500/month payment that you no longer have to pay on loan a if you want to reduce your loans as fast as possible?

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The concept of "power payments" will you repay your loans faster and reduce your total interest pay...