Posted 10/7/2024 11:27 (#10918180 - in reply to #10918140) Subject: RE: Farm Loan Payment Early
EC Nebraska
Usedtofarm - 10/7/2024 10:45
dittfarms - 10/7/2024 09:03
It really only works the first year. After that you are still paying interest on a yearly basis but at a little bit smaller principal
This is true. YR 1 you save 4 months interest and more goes against principal. To get the same effect in yr. 2, you would need to make the payment July 1 and so on each year.
One of us needs to study up on how compound interest works. Not sure who.
Farm Loan Payment Early
