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Your math is wrong, and I don't think it's possible to fix it and get the conclusion you want (because you should think about your total debt, and how much it g

Your math is wrong, and I don't think it's possible to fix it and get the conclusion you want (because you should think about your total debt, and how much it goes up each day, when figuring out if you can keep up or not). The daily interest on $1000 with 0.7% interest is around $7. Waiting a few days to pay of the smaller debt will not make it exceed $19. Edit: Were you banning partial repayments? Most debt (I think) is not like that, but maybe it makes your math work

tbrownaw 16y ago
> Edit: Were you banning partial repayments? Most debt (I think) is not like that, but maybe it makes your math work It does make it work assuming that partial repayments are not allowed, and interest is added to the principal (and paid off at the end) instead of being paid as it comes due. I don't think either of these is realistic, especially the second one. Also if I assume a savings account paying even 0.1%, it goes back to being payable in either order.
xyzzyz 16y ago
>Were you banning partial repayments? Yes, I were. If partial repayments are allowed, it is indeed the best approach. >The daily interest on $1000 with 0.7% interest is around $7. Waiting a few days to pay of the smaller debt will not make it exceed $19. Of course not, but they will exceed $19 before you will be able to pay it off as a whole -- it will take more than 130 days. Maybe I should make my statements clearer, so that next time I do not get downvoted for being misunderstood.