|
| For those of you who think you will save a lot of money by paying early the first year: To clarify I used 10%. Savings would be less using a lessor Interest Rate.
$100,000 Loan, 1-1-2024 with 1-1-2025 first Payment = $13,170.32 annually
With first payment on 9-1-2024 (4 months early) and annually on 9-1 annually thereafter = $12,770.23. A slight savings of approximately $400 a year, this is a savings, but doesn't add up to much over the life of the loan.
Edited by Usedtofarm 10/8/2024 15:03
| |
|
Farm Loan Payment
