| $100,000 Mortgage |
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Interest Rate |
6.17% |
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Interest Rate |
5.73% |
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Monthly P/I $ 6=
10.52 |
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Monthly P/I $ 8=
29.34 |
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=
;30
Year |
Mortage |
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;15
Year |
Mortage |
| Year |
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Interest Paid |
Principal |
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Interest Paid |
Principal |
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| 2006 |
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$ 6,136.73 |
$
1,189.55 |
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$ 5,617.33 |
$ &nbs=
p;
4,334.74 |
| 2007 |
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$ 6,061.23 |
$
1,265.06 |
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$ 5,362.33 |
$ &nbs=
p;
4,589.75 |
| 2008 |
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$ 5,980.93 |
$
1,345.36 |
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$ 5,092.31 |
$ &nbs=
p;
4,859.76 |
| 2009 |
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$ 5,895.53 |
$
1,430.75 |
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$ 4,806.42 |
$ &nbs=
p;
5,145.65 |
| 2010 |
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$ 5,804.71 |
$
1,521.57 |
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$ 4,503.71 |
$ &nbs=
p;
5,448.37 |
| 5 Year total |
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$
29,879.13 |
$
6,752.29 |
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$
25,382.10 |
$
24,378.27 |
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With the 15 year mortgage, t=
he
payment is $ 218.82 more per month. |
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However at t=
he end
of 5 years, the home owner has |
$
17,625.98 |
more equity. |
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| Looking
at the additional monthly payment as an investment. |
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* Investing $ 218.82 per mon=
th into
an annuity for 5 years to achieve a total return of |
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$17,625.98 |
at the end of 5 years would requi=
re a
11.48% rate of return. |
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Yield Over 5 Years with monthly depo=
sits of $ 218.82 <=
/font> |
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With an Initial=
Amount of $ 0.00 |
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And a Final Amo=
unt of $ 17625.98 |
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Yield:
11.48 % |
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(used this webs=
ite to
calculate yield)
http://www.cuweb.com/investmentcalc.html |
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Investment |
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$
17,625.98 |
Final Amount |
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218.82 |
amount |
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$
13,129.20 |
Total Invested |
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60 |
months |
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$ 4,496.78 |
Gain |
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$13,129.20 |
total invested |
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