tag:blogger.com,1999:blog-5465015914589377788.post5762835932960666115..comments2024-03-20T09:32:16.592-04:00Comments on Michael James on Money: Choosing a Mortgage TermMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5465015914589377788.post-9721065437854054552009-09-29T13:13:49.783-04:002009-09-29T13:13:49.783-04:00Patrick: The math could have been made simpler by...Patrick: The math could have been made simpler by estimating the answer. For example, comparing a 4-year mortgage at 4% to a 5-year mortgage at 5%, the total percentages for the whole periods are 16% and 25%. This makes the rate for the 5th year about 9% (the difference). Working it out the correct way gives 9.1%. Estimating works reasonably well for small percentages.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-8797102547464031332009-09-29T12:11:57.442-04:002009-09-29T12:11:57.442-04:00Wow, this is really eye-opening. The math is simp...Wow, this is really eye-opening. The math is simple, but it wouldn't have occurred to me to compute the year-by-year rates that way.Patrickhttps://www.blogger.com/profile/16816252455472704262noreply@blogger.com