Welcome aboard . . . hope you like it here.
If no one is responding, it's that the question is strange . . .
To minimize the total interest paid, pay cash. .Interest: $0One of the local financial advisers says that if you are paying off a house, you should
try to tailor your house repayments so that the loan is paid off as soon as possible.
But there is little to be saved by paying it off in less than 10 years. .Really?
Investigate the truth or otherwise of this statement and determine whether
there is a mathematical link between time to pay off the loan and savings made.
. . Well, of course there is!
. . Otherwise, the longer the mortgage, the more interest you will pay.
So what exactly are they asking?