Alvin,
For flat rate, 2% x loan amount 100K = 2K.
So over 7 years, total interest payable = 2 x 7 = 14K
Interest + principal will then be = 14K + 100K = 114K (or $1,357 / month)
Did I miss something here?
Edwin, you're correct!.. I just corrected my message. I kept thinking it was 2.7% (what I paid for my interest) so the figures just came out like that without calculating.. :verysad: Thanks buddy!
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