The document analyzes the costs and savings of taking a loan to purchase a home worth ₹16,000,000 over 30 years at an interest rate of 7.5%. It is determined that by paying an extra ₹5,594 EMI each month, the total interest paid would be reduced by ₹7,985,944, providing an effective interest rate of -7.985,944 or a 13% return on the extra amounts paid over the loan period. Tables show the breakdown of principal and interest over the loan term.
The document analyzes the costs and savings of taking a loan to purchase a home worth ₹16,000,000 over 30 years at an interest rate of 7.5%. It is determined that by paying an extra ₹5,594 EMI each month, the total interest paid would be reduced by ₹7,985,944, providing an effective interest rate of -7.985,944 or a 13% return on the extra amounts paid over the loan period. Tables show the breakdown of principal and interest over the loan term.
The document analyzes the costs and savings of taking a loan to purchase a home worth ₹16,000,000 over 30 years at an interest rate of 7.5%. It is determined that by paying an extra ₹5,594 EMI each month, the total interest paid would be reduced by ₹7,985,944, providing an effective interest rate of -7.985,944 or a 13% return on the extra amounts paid over the loan period. Tables show the breakdown of principal and interest over the loan term.
The document analyzes the costs and savings of taking a loan to purchase a home worth ₹16,000,000 over 30 years at an interest rate of 7.5%. It is determined that by paying an extra ₹5,594 EMI each month, the total interest paid would be reduced by ₹7,985,944, providing an effective interest rate of -7.985,944 or a 13% return on the extra amounts paid over the loan period. Tables show the breakdown of principal and interest over the loan term.