Quote:
Originally Posted by Lurch
Someone bad at math might be able to do it, but no one good at math should be able to. If interest rates double, the interest portion of your payment should approximately double. At the limit, if you have a very long amortization (40 yrs might get close), the payment would exactly double (unless I am bad at math which is very possible!)
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Thanks - what I was trying to write wasn't making sense to me. A financial planner was trying to explain this to me yesterday.
http://www.tdcanadatrust.com/mortgages/afford.html