Obsolete in a theological sense -- God never changes, so when Paul (for example) says that the law is now obsolete, he doesn't mean that God messed up before, and corrected his mistake, rather, he means that God intended the law to bring the...
It's just not how compound interest works. Simple interest loans can be calculated this way. With simple interest, you decide the total interest at the outset of the loan, then you execute the loan at that rate, and the interest/principal can be...
I remember reading the following in a book of old jokes: "Annie, Bess and Suzie were bragging to each other about who has the best family. Annie said, 'My Dad mounted a chandelier in our dining room.' Bess thought for a moment and said, 'Well, my...
If you pay 20% down and the price of the house in interest, you already pay 125% of the money borrowed in interest, and people go for that.
It's amazing what people will do if you say that's the way it's done.
It just occurred to me that I'm probably the reason Indian bots spam us. I keep looking for a website covering this kind of story that I don't find repulsive, and settling on this one...
It's just how the math of such long-term loans works out. For a fixed rate of compound-interest over a loan, the most interest will be paid up-front. The longer you extend the lifetime of the loan, the bigger proportion the total interest that...