Question: 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

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. How much is the interest cost for the very first month using a debt snowball method?

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