Quote:
Originally Posted by rmd2
My bond when I moved in was $8K. I paid mine off when I closed. I have been here 9 years and I'm glad I paid off the bond when I bought. Don't like paying interest only for anything because in 9 years you would have paid off zero on the bond. You would have just paid the interest each year. If I had not done that the bond today would still be $8K
|
Not exactly. An $8,000 bond with an interest rate of 5 percent would have a balance due of about $6,700 after 9 years.