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Debate House Prices
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Overpay or save?
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the interest on each 100k block over 35 years, is considerably more than the interest on the same sum over 25 years, no matter what the interest rate is.
The above statement is untrue. The compound interest on any sum @5% for 35 years is nearly the same as 7% for 25 years.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
not what I meant
I meant there is considerably more interest to be paid over 35 years than 25 years, assuming the same interest rate.
ie, 5% over 35 years vs 5% over 25 years = a lot more interest.It's a health benefit ...0
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