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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Head banging time Date:  11/6/2012  11:14 AM
Author:  vkg Number:  306368 of 312185

Now they realize that they could have taken out a different loan that didn't charge 30%. Amazing.


It isn't stated the same way as interest rate on a loan.

It also should have been easy to multiply the monthly payment by the number of months. Borrowing $92,000, Paying $240,000.

They are also paying income taxes on the payments.

It is no wonder that they were in deep financial problems and were looking for a quick fix.
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