[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 30 KB, 614x614, 2627_pepe_hmm.png [View same] [iqdb] [saucenao] [google]
55847508 No.55847508 [Reply] [Original]

I owe $4,000. Do I want to pay it all off at once (I can easily do that), or do I want to pay it off over 10 years, with an extra $800 in interest?

Im thinking that the dollar will inflate enough to make the interest not matter. I can also spend the money I keep in my bank account on a future down-payment, or just keep it. But I also want to pay it off now to just get it over with.

>> No.55847579

>>55847508
What's your income?

>> No.55847620

>>55847579
I'm taking a short break from work. I'm going to try and find one next month. I'd estimate between $17 and $22 and hour. Full time. Like I said, paying it off right now wont hurt me at all, I have plenty saved.

>> No.55847629

>>55847620
>)
Find a job I mean

>> No.55847649

>>55847508
>$1.50 a week

A thread died for this.

>> No.55847669

>>55847508
Whats your interest rate on the loan? Did you use it to take a single econ class?
https://en.wikipedia.org/wiki/Time_value_of_money?wprov=sfla1

>> No.55847675

>>55847620
honestly just pay it off and be done with it. it is such a trivial amount. good luck on your job searching.

>> No.55847717

>>55847669
5%

>> No.55847758

>>55847508
>>55847620
>Im thinking that the dollar will inflate enough to make the interest not matter
why do you retards always say this? inflation only works in your favor if you have investments or wage growth that outpaces it.