A Finance Calculator Can Save You Money
Posted by admin in Did you know,Real Estate,Saving
© Afroswede
Which costs more: a 20 year mortgage at 7% interest or a 30 year mortgage at 5%? Sounds like you need a finance calculator.
I remember buying my first house. The guy told me that if I was to compound the interest quarterly and then multiplied by four on the third Sunday of each month (provided it wasn't raining that day) , I'd be able to tell what I was really paying on my mortgage loan. I asked him what "compound" meant and he told me it was something a pharmacist did. He wasn't very helpful, in retrospect.
In this economy there's simply no substitute for the combination of math and knowledge. Whether it's a car loan or a mortgage, you can save a lot of money by knowing what something really costs. Of course, if you can't do the math, what good it the knowledge? Unless you have a calculator…
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