Question

Explain why making the minimum payment leads to paying the most interest (APEX 5.3.1)

Answer 1

A lower credit score can make it harder to qualify for credit cards and loans. Minimum payments only lower your balance a small amount at a time because a large amount of your payment is applied to monthly interest instead of your credit card balance.

Step-by-step explanation:

Answer 2

Because the time span that you are paying off increases. As does the interest.