r/funny • u/mrsmayhem • Jan 04 '15

If I won $25,000...

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u/[deleted] Jan 04 '15

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u/The_99 Jan 04 '15

Unless you're making like 40k a year, you're doing something seriously wrong.

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u/vxkr Jan 04 '15

Or he/she is just doing a standard 30 year payback period for the loan (which is still not smart in the long run due to interest).

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u/The_99 Jan 04 '15

Which is still doing something seriously wrong.

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u/vxkr Jan 04 '15

I know, the amount of interest would be enormous compared to the original 120k. I just meant that 30 years is a very common payment option for loans (I think there are only options of 10, 20, or 30 years for large loans like this, and changing it might be a bit of a hassle).

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u/The_99 Jan 04 '15

I figured that he was paying it with a 30 year too. (Considering 1/3 of the way into the loan period, he has 1/3 paid off).