10k a year repayments on a 100k loan with 3k interest is 7 k off the principle.
100/7 = 14 years - yes I know the interest reduces as you pay back the principle but let's say at that rate of repayment it will take about 12 years to pay the loan back (split the difference between an interest loan and 3% interest). That's not an unrealistic timeframe for that level of debt. Who would have a 100k mortgage on a 30 year loan?
And you have the temerity to suggest my maths is bad!
brainchip may 2021 update, page-32
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