Simulate paying off multiple debts highest-interest-rate-first, the mathematically optimal "debt avalanche" method.
Simulate paying off multiple debts highest-interest-rate-first, the mathematically optimal "debt avalanche" method.
Every debt gets its minimum payment each month, and all extra money goes toward whichever debt carries the highest interest rate. Once that debt is cleared, the freed-up payment rolls onto the next-highest-rate debt, and so on — this order minimizes the total interest paid across all debts compared to any other payoff sequence.
