That's a different story, if you pay down the principal quicker then obviously your interest will drop, loan interest is being compounded on outstanding balance, four things to keep in mind

slimpiggy (瘦猪犹如插翅虎)
Outstanding Loan Balance(lower the better)

The amount of your periodic payment (bigger the better)

Compounding period within a year (fewer the better)

Money (more the better)

also, if you can beat down the principal before the next compounding effect (ie next month)kicks in, then it's gonna be less, so always speak in terms of rates, since they are absolute

again, how frequent you pay only concern the with item #1
2001-8-23 -04:00
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Back To Topic: 如果新车的最后总价为25,000,mortgage rate为6.20,3年还清,偿还的利息为多少?25,000 x 0.062 x 3 = 4,650?是这样算吗?

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