Ponderable

Wez said:
Fair enough, what was he not backing up? I saw BIZ mention something about interest rates not mattering and then said to look at a mortgage amortization schedule, which didn't make any sense to me either, but not much BIZ says does make sense.
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Izzy has a long history of fumbling discussions of interest rates -- or any other discussion involving simple arithmetic, for that matter. I can't post links to any of that because they don't exist any more.

This followed the time when I was suckered in to believing he actually knew something about economics and investments.
 
Wez said:
Fair enough, what was he not backing up? I saw BIZ mention something about interest rates not mattering and then said to look at a mortgage amortization schedule, which didn't make any sense to me either, but not much BIZ says does make sense.
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Wez, Magoo is more than capable of handling his own discussions. Let's talk about your fears and anxieties regarding math 600 vs 42000...
 
Lion Eyes said:
Who says I carry a gun?
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I thought you said you occasionally carry a gun to a soccer field...

Lion Eyes said:
600 to 42000 - drunk drivers call way more folks than accidental shootings.....
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So my family should, in addition to avoiding drunks, should additionally have to worry about the idiot in the bathroom stall next to us accidentally shooting his gun off?

Lion Eyes said:
The second amendment and the courts are clear regarding the right to keep firearms.
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Which is why I said, "I understand this is what laws and elections are for, just sayin."
 
Lion Eyes said:
Let's talk about your fears and anxieties regarding math 600 vs 42000...
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Ah, the ole "you're just a pussy" response. When you can't discredit the extra risk posed by gun nuts toting guns around and accidentally killing people with them, just call the gun control advocates pussies...
 
Wez said:
You are clearly busting the wrong person's balls here, Izzy made another dumb statement and espola called him on it. Why aren't you chiming in on BIZ?
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Ah yes the financial specialist. Would you care to do what espola is avoiding, ammortizing a 30 year loan at 3.25% and telling us what percentage of the monthly mortgage payment goes to interest?
 
espola said:
Izzy has a long history of fumbling discussions of interest rates -- or any other discussion involving simple arithmetic, for that matter. I can't post links to any of that because they don't exist any more.

This followed the time when I was suckered in to believing he actually knew something about economics and investments.
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How would you know what I know when you canʻt even ammortize a 30 year loan at 3.25% and tell us what percentage of the monthly payment goes to interest?
 
Bruddah IZ said:
Go at it. 30 years, 400k, 3.25%. Calculate
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So you want me to do math but are unable to tell me why? I have 10 letters after my name that says I can meet your challenge, what I don't have is a reason to meet it yet. I'm guessing you don't even know why you're asking for that tidbit of info. I'm guessing, once you are given the answer, which btw, requires more information (total interest paid, percent of monthly payment, which monthly payment, etc.), you will have no real point to make at all.
 
Bruddah IZ said:
How would you know what I know when you canʻt even ammortize a 30 year loan at 3.25% and tell us what percentage of the monthly payment goes to interest?
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That depends on which month it is, and whether there are any other factors affecting the payment schedule (late/on time/early? escrow account? 12, 13, 24 or 26 payments a year?, etc). It also depends on which definition of "interest" you are using. Usually, the advertised rate is not the legally-defined APR, which is usually higher, but it is not "20 times that", as you claimed.

And there is only one m in amortize.
 
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espola said:
That depends on which month it is, and whether there are any other factors affecting the payment schedule (late/on time/early? escrow account? 12, 13, 24 or 26 payments a year?, etc). It also depends on which definition of "interest" you are using. Usually, the advertised rate is not the legally-defined APR, which is usually higher, but it is not "20 times that", as you claimed.

And there is only one m in amortize.
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How about all but months 350 thru 360. Lets also assume the borrower is never late and thus increasing the percentage of interest on the monthly payment. 12 payments a year. You may use the APR if you like, thus increasing the dollar amount and percentage paid to interest from the mortgage payment, thanks for correcting the spelling my little editor. Now tell us why it's not "20 times that".
 
Bruddah IZ said:
How about all but months 350 thru 360. Lets also assume the borrower is never late and thus increasing the percentage of interest on the monthly payment. 12 payments a year. You may use the APR if you like, thus increasing the dollar amount and percentage paid to interest from the mortgage payment, thanks for correcting the spelling my little editor. Now tell us why it's not "20 times that".
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First of all, I don't know the APR without knowing all the details of the loan.

But please continue. You're doing great.
 
Wez said:
So you want me to do math but are unable to tell me why? I have 10 letters after my name that says I can meet your challenge, what I don't have is a reason to meet it yet. I'm guessing you don't even know why you're asking for that tidbit of info. I'm guessing, once you are given the answer, which btw, requires more information (total interest paid, percent of monthly payment, which monthly payment, etc.), you will have no real point to make at all.
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No, I don't want you to do the math. Why don't you use the calculator you linked to do that? Lets put those ten letters after your name to the test although I doubt it takes much to use a mortgage calculator. Should be easy.

I think if people knew that 60 cents of every dollar they paid toward the monthly mortgage was going to interest (bank) as opposed to principal, they might wish they were in the banking business themselves!!
 
Bruddah IZ said:
No, I don't want you to do the math. Why don't you use the calculator you linked to do that? Lets put those ten letters after your name to the test although I doubt it takes much to use a mortgage calculator. Should be easy.

I think if people knew that 60 cents of every dollar they paid toward the monthly mortgage was going to interest (bank) as opposed to principal, they might wish they were in the banking business themselves!!
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Still clueless.
 
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