How much am I really paying on my
mortgage or loan?
Sit down. The amount that you actually
pay on your mortgage or loan may shock you! You may already know the awesome power of compound
interest, but let’s look at an example.
A $100,000 Home Loan… What does it really cost you?
Principal + Interest = ?
Amount borrowed: $100,000
Interest rate: 8.5%
Term of loan: 30 years
Monthly payment: $768.92
Total of payments: $276,811.20
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