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Why is it a good idea to pay more than the monthly amount due on an amortized loan?
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Why is it a good idea to pay more than the monthly amount due on an amortized loan?

User Radde Mojsovski
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well, if it has interest, the longer you pay the loan out for, the more interest you pay. paying it off as fast as possible saves money through interest, so therefore spending more a month saves more over a longer period of time
User DextrousDave
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