A hypothetical situation....
You have a 100K loan.
In one year which scenario would pay off more of that loan.
1: The 100K loan is on P&I and this cost you $219 per fortnight
2: The 100K loan is on IO and this costs you $117 per fortnight
Saving you $102 per fortnight and at the end of the year you do a bulk reduction of $2652...being 26 x $102.
Thanks
Richard
You have a 100K loan.
In one year which scenario would pay off more of that loan.
1: The 100K loan is on P&I and this cost you $219 per fortnight
2: The 100K loan is on IO and this costs you $117 per fortnight
Saving you $102 per fortnight and at the end of the year you do a bulk reduction of $2652...being 26 x $102.
Thanks
Richard
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