If you are thinking of a house loan, please see the schedule below so that you can see how your monthly repayment changes over time.
Schedule of Mortgage Payment of A House Loan from National Australia Bank
Amount of Loan : $ 200,000.00
Interest Rate: Fixed at 7.5%
Monthly Repayment: $ 1,398
Period: 30 Years
Please click the link below to view/download the Schedule
http://www.ziddu.com/download/16547087/NABLoanCalculation.xls.html
Summary:
1) You will actually pay your loan of $200,000 after 31 years.
2) The Total Interest Paid is $ 320,930.90 which is 1.60% of your loan.
3) To decrease the amount of interest overtime, always pay more than the minimum repayment if you can afford it.
