Interest (part 2)
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My brain is about to explode from watching this...
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@yodenpopen Yeah that's cool but when your mortage is 400k your interesting is going to be gigantic. You will be moving nowhere.
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I like
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Nope @mrhollywood interest is added towards that amount. Find out the interest rate usually it's 20-50!% Longer it takes the higher...for example 5000 owed in 2 t yrs= 20 grand PLUS capital...Wait it out! Trust Me. Wellllll worth it!! Yes u can garnish wages but I would definitely Wait...Again,Trust me, I know.Call my 818 I seriously can help w this..I owe u neway xox lol :)
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@yodenpopen Yeah! I THINK that's what "Interest Only Mortgages" are. In Compound Interest, one pays Interest on the Interest. I'm getting it, ain't I?
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just as an additional note here, if you do borrow with a compounded interest rate, you can 'force' that interest to be simple interest by paying off the interest at each interval of time...
for example if you borrow 100 dollars and it is compounded monthly at 10% you can simply pay off that 10% (10 dollars in this case) each month so that the next month you are only being charged 10 dollars again on the second month... and so on with each month until you finally can pay off the whole principle.
yodenpopen 2 years ago 12
U NEED TO SHARPEN UR GREEN PEN !
TheLoveformankind 4 months ago 3