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1. If you make the minimum payment of $50 at the end of the first month, the amount that goes towards the principal would be $29.13. The remaining $20.87 goes towards paying off the interest.
2. If you paid the $50 at the beginning of the month to decrease the principal, the interest accrues on the remaining balance of $848.42 - $50 = $798.42. The interest accrued for the first month would be $798.42 * 12.75% / 12 = $8.49.
3. By paying $50 at the beginning of the month to decrease the principal, you save $8.49 in interest by the end of the first month.