A:Also, if you pay your bill 2x a month you would pay off a 30-year note in around 24 years. (Ex... your note is $1000, you sign up with the lender to auto-debit. You pay $500 on the 1st and auto-debit the other $500 on the 15th. This also works if you pay an extra payment a year. That's the power of compound interest. http://RussellThomae.com
