I used that number for simplicity’s sake since so… so many of you have a hard time putting large numbers into understandable chunks.
I do understand opportunity cost. My gripe is applying it to shelter to begin with. The whole notion of using shelter as a means for financial gain is absurd. That’s the reason 2008 happened and why housing is unobtainable now.
Oh, you sweet summer child…
Also, please come back when you understand opportunity cost. I will GLADLY pay anyone a 3% rate to front any amount of money I already have.
I used that number for simplicity’s sake since so… so many of you have a hard time putting large numbers into understandable chunks.
I do understand opportunity cost. My gripe is applying it to shelter to begin with. The whole notion of using shelter as a means for financial gain is absurd. That’s the reason 2008 happened and why housing is unobtainable now.
I’m glad you have $100k on hand. Most don’t.
No shit…lol they have no clue how interest works
Oh is my math wrong?
Payment = rate*(loan amount)/(1-(1+rate)^(-number of payments))
Rate =.03/12 = 0.0025
Payment = 0.0025*100000/(1-1.0025^(-360)) Payment = $421.60
Therefore, $151776 will be paid in total, or $51776 in interest.