7 ms·

With 7% interest it’s over 200k.

• pinkmuffinere 2y ago
  Sure but that’s an order of magnitude above the numbers the parent is comparing? A 7% fee is certainly crazy, agreed with you there
  • frognumber 2y ago
    guntars did the amortization on $25k growing with interest (not fees). In other words, the claim is that 0.5% can be significant. Which is true. When I did the math with my life savings, 0.5% was about the breakpoint where things become significant. $200k would be more significant, so I suspect when I did the math properly, I was expecting to retire in less than 50 years. In 50 years, I'll likely be dead.
    • pinkmuffinere 2y ago
      Ah I see, the 7% yearly interest on the 0.5% fee can add up to be significant. That is a good point, good job @guntars
  • HDThoreaun 2y ago
    No. https://www.wolframalpha.com/input?i=500*sum+1.07%5Ex+from+0+to+50 https://www.wolframalpha.com/input?i=500*sum+1.07%5Ex+from+0...