Quote:
Originally Posted by Mike
simple interest and amortized are the same thing. some shady places use the rule of 78, but hardly anyone does that anyore.
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Then there is something wrong with what the penfed employee told me.
He said my monthly would be a bit under 570 a month if I were to use the full 30k loan.
That sure as hell doesn't sound right. When I was doing the math my monthly should be around 540 a month if I used the full 30k loan.