Larry has been paying the minimum balance on his three credit cards each month. he has
outlined the minimum payments for the next four months. he decides to snowball his debt
after month 1 according to the interest rate instead of paying the minimum payment.
part 1 (2 points): explain, using complete sentences, how the total monthly payment will change for
each month.
part 2 (2 points): explain, using complete sentences, how the payments for each credit card will
change for each month.