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SE IL | Kooiker, you are correct on all accounts assuming the loan holder allows early payment and calculates it as such. Once the principle is paid early that interest savings continues to compound over the life of the loan, and same thing if it’s done in year 2. I believe it was Albert Einstein who said those who understand compound interest earn it, those who don’t, won’t.
Edited by Deere6 10/8/2024 06:23
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Farm Loan Payment Early
