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Get a Texas Instrument BA35 (or equivalent, mine is 11 years old). It allows you to try different scenarios re: present value (amt of loan), interest rate, monthly payment (or any periodic payment arrangement) and number of payments. Entering datum for any three permits you to calculate the fourth.
The thing that is fascinating me recently is the proliferation of "interest only" loans. Talk about betting on increased property values!!! What happens if the property value drops below the loan amount? Will the banks come after the individual like stock brokers do for folks who buy on margin?
Just some idle ramblings....
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Bob S. former owner of a 1984 silver 944
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