Find the minimum repayment and see how term affects total cost.
Monthly Repayment
$0
Minimum to clear in term
Total Repaid
$0
Over full term
Total Interest
$0
Cost of borrowing
Interest %
0%
Of total repaid
Principal vs Interest Over Term
Task: A bank offers $500k at 4.8% over 30 years or $500k at 5.2% over 25 years. Which has lower total interest? Use the calculator to compare, then explain why shorter terms save money even with higher rates.