NightOwl668
Registered User
- Messages
- 13
10K @ 4.29% = 429 interest annually. For 15 years the cost of this money is 6435
10k, 15 years, 4.29%: Repay 75 per month = total repayments 13,600, being 10k loan repaid and 3,600 interest.
!
I couldn't agree more.These "total cost of credit" numbers should be banned.
There is a real danger that someone might try to understand your numbers and come up with some other conclusion. These "total cost of credit" numbers should be banned. You are adding up today's euros with 2029's euros which are completely different things. These calculations are worse than meaningless.
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