12 January 2006

The beauty of compound interest

So...I have now made one mortgage payment in my life. My online statement breaks it down into principal, interest, and escrow paid. Of my payment, only 15% went to paying down the principal. The principal paid was a whopping 0.1016% of the original loan amount. Welcome to the real world, right?

“The most powerful force in the universe is compound interest”
--Albert Einstein

4 comments:

Chris Goeppner said...

whats up with the cats?

J Dub said...

Wish I knew, wish I knew.

Mike West said...

Sub-par recruiting the last few years

Anonymous said...

You might just as well join the Buckeye bandwagon right now. Currently they are better than the cats and with next years recruting class, OH MY!!!!! Not to mention we have a real football team!
Send me a email some time Commander West scheidr@norwalk-city.k12.oh.us