1,197,152
The suspense builds and I am waiting for the correct answer.
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Kevin J. May
Hobe Sound, FL
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Tony and Suzanne Marri...
Scottsdale, AZ
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Lyn Sims
Schaumburg, IL
5,230,113
My guess would be 19 or 20 years also.
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Kevin J. May
Hobe Sound, FL
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Fred Griffin Florida R...
Tallahassee, FL
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Lyn Sims
Schaumburg, IL
1,052,211
This is a wild guess going by instinct, but I would say you'll probably hit the halfway point about 20 years in if you make the regular payment every month.
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Kevin J. May
Hobe Sound, FL
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Fred Griffin Florida R...
Tallahassee, FL
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Lyn Sims
Schaumburg, IL
1,153,794
Assuming 360 regular monthly payments, number 231 would get you to the midpoint. The correct answer is 19 years and 3 months.
Congratulations to Debe Maxwell, CRS for being the closest to the mark!
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Lyn Sims
Schaumburg, IL
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Fred Griffin Florida R...
Tallahassee, FL
2,781,173
18-20 years
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Kevin J. May
Hobe Sound, FL
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Richie Alan Naggar
Riverside, CA
2,436,099
Well, since we can't actually use any tools to figure this out, I'm going to guess it's 22 years. The first 15 or so years are mostly interest so it'll take a while to get that principal down.
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Kevin J. May
Hobe Sound, FL
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Lyn Sims
Schaumburg, IL
4,319,419
Kevin J. May - a mere guess - 18 years. (Assuming monthly payments on a regular basis.)
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Kevin J. May
Hobe Sound, FL
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Lyn Sims
Schaumburg, IL
599,274
On a 30-year loan, I would guess it's around 20 years.
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Kevin J. May
Hobe Sound, FL
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Lyn Sims
Schaumburg, IL
1,045,440
No calculator other than me I would say it would be about 19 years but I do have an edge when it comes to math so if you have another I am game Kevin J. May
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Kevin J. May
Hobe Sound, FL
1,622,432
My guess was that it is 2/3 of the term since you pay mostly interest first years.
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Kevin J. May
Hobe Sound, FL
3,986,258
My guess was going to be 20 years because the start of the loan sees little going onto the pricepal
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Kevin J. May
Hobe Sound, FL
5,772,575
4,434,127
5,583,278
that's a long road, but it's a journey everyone needs to take for financial independence....
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Kevin J. May
Hobe Sound, FL
4,936,705
I guess I would have to call my lender and ask him.
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Kevin J. May
Hobe Sound, FL
1,502,998
Good thing I have an abacus around!
My guess is 20 years. I have two mortgages right around the 200k mark, 30 yrs at 3.1-3.7% and I know that I have to pay $1k extra to principal to get it paid off in 9 or 10 years, unlike the days of 14% interest when 1 payment towards principal a year knocked the mortgage time in half.
That's why I'm guessing 20 years. Right now I see a $5 difference in how much of my normal payment goes to principal v. interest each month.
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Kevin J. May
Hobe Sound, FL
1,466,207
Kevin J. May It used to be around 17 years before more of the payment was going towards the principle than the interest.
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Kevin J. May
Hobe Sound, FL
1,725,996
2,684,109
20 years.
Anyone using "Common Core" wouldn't be making enough money to get a mortgage.
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Kevin J. May
Hobe Sound, FL
3,988,007
I would say about 2/3's of the way to the end of term. Now let me use my calcualtor and I'll get it exactly.
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Kevin J. May
Hobe Sound, FL
55,673
You left too many variables unanswered. But for a 30 year mortgage at 4.25% it takes approx. 20 years to reach 1/2 of principal. However on a 15 year mortgage is takes approx. 8 years. I get asked this question ofter,so I know that this is fairly accurate. If one can afford it.....15 years is the way to go.
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Kevin J. May
Hobe Sound, FL
4,800,082
989,652
3,416,038
Making regular payments it would be around 19 years. Using common core math, you would need that many years to figure it out and as long as you were close, you get credit. That is why NH is taking their school districts off of the disaster they call common core
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Kevin J. May
Hobe Sound, FL
1,712,676
Common Core? And for me this would be a waste of time. I like tools so I have time for the good stuff.
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Kevin J. May
Hobe Sound, FL
4,882,355
I will let my friend Sweet Brown answer for me.
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Kevin J. May
Hobe Sound, FL
1,617,916
3,071,489
1,844,301
17 years is my answer. I first wrote 15, then 20, then this one lol.
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Kevin J. May
Hobe Sound, FL
5,104,931
5,049,450
1,543,823
1,157,785
Some missing variables include frequency of payments and when interest is compounded.
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Kevin J. May
Hobe Sound, FL
6,393,609
Glad that you didnt say I could not use a spreadsheet.
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Kevin J. May
Hobe Sound, FL
711,852
Probably around 20 years - just guessing.
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Kevin J. May
Hobe Sound, FL
97,816
89 years? (no idea, it just came to me)
--hope you tell us in a couple of days, lol
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Kevin J. May
Hobe Sound, FL
5,868,554