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How do you pay back your debt?
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coup
Posted 8/10/2011 07:49 (#1905551 - in reply to #1904746)
Subject: RE: How do you pay back your debt?


USA
If interest cost is about the same, would pay off loans that reduce greatest amount of payment first.


Example,

2 loans both have $500,000 balances.

Loan 1 has 19 years to maturity, I& P is $40,000 year

Loan 2 has 10 years to maturity I& P = $70,000 year.
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