It’s a true saying that you can not get alongside with out money. How a lot curiosity would you expect to pay based upon a 4% APR? Don’t calculate or look it up, simply depend upon your individual widespread sense and estimate what you assume it’s going to be. If I requested this query of a hundred folks a day, virtually 100% would severely underestimate the entire of curiosity payments made after 30 years. Some answers include $25,000 or even $50,000 and a rare event somebody guesses $60,000. Nobody ever assumes as a lot as $75,000 which is approx. the fee on $one hundred,000 loan at 4% over 30 years. Its known as the magic of compound interest and in this case the it is the banks and lenders who’re compounding YOUR losses for their benefit.

By EDONS