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Bear in mind that there is a big different between $16,000 of debt payable over 20 years at 4.5% interest and say, a car loan for $16,000 payable over 4 years a
by LyndsySimon 9y ago
Bear in mind that there is a big different between $16,000 of debt payable over 20 years at 4.5% interest and say, a car loan for $16,000 payable over 4 years at 10.9% interest.
- foldr 9y agoRight, but if you have the $16,000 debt, you have to work a job that pays a reasonable wage. Even ignoring the interest, $16,000 over 20 years is $66 a month.