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this post was submitted on 14 Nov 2023
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Asklemmy
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Yes it is.
There are a few factors that modulate this, very slightly
0 down on 300k at 8% yields a 2025/mo mortgage.
It is basic arithmetic.
No, it’s not.
You’re rationale that 8% of 300,000 = 24,000 therefore $2,000/mo., by dumb luck, comes close at 8%.
It’s algebra, not arithmetic.
P = (r * A) / (1 - (1 + r)^(-n))
where:
Do you live in some world where PEMDAS/order of operations isn't basic arithmetic?!
Jfc..
Even we Americans are taught this shit by age 12.
Seriously.
PS., it is $2025. Source: qualified. Decided to wait until $2025/Mo gets me something worthwhile. Your basic arithmetic failed to include the handful of factors that mitigate these numbers slightly zip code/taxes, hoa fees, etc. still, basic fucking arithmetic.
Stay in school.
Not sure how zip code factors into “simple arithmetic” but you do you.
ok
Interest deduction… meaning not 8% anymore. It doesn’t change the math, it changes the rate.
I didn't say it changes the arithmetic, numb nuts. I said it can modulate the price slightly.
Jesus stfu already. Nothing worse than an internet sea lion who can't admit when they're wrong.
Project much?
Aaaand you're blocked.