The concept of "Power Payments" will help 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.

 

Step by step proper explain. 

Answer rating: 100% (QA)

To effectively use the concept of Power Payments to repay loans faster and reduce total interest payments you can follow these steps Step 1 Organize L... View the full answer