You owe $2,154.35 on your pbnj credit card that has an interest rate of 9.85% apr. rather than placing $435.00 into a savings account earning a 2.5% apr, you pay down the principal at the beginning of the month on the credit card. how much interest did you save?

First, calculate the difference in the interest rates. 9.85% - 2.5% = 7.35%. One month's worth of interest is 1/12 of that yearly rate, so 7.35%/12 = 0.6125% monthly. Then multiply that by the $435. $435 * 0.6125% = $2.66 

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The answer is -pie over 2