Buying a house frequently involves borrowing a significant portion of the house price from a lending institution
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Buying a house frequently involves borrowing a significant portion of the house price from a lending institution such as a bank. Often times, the bank provides repayment of the loan based on long amortization periods. The following site maintained by Royal LePage shows the effect of increasing your monthly payment on the amortization period. royallepage.ca/en/realestateguide/buying/preparing/index.aspx increasing the monthly payment has a disproportionate impact on reducing the amortization period. Can you explain why this happens?
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Related Book For 
Fundamentals of Corporate Finance
ISBN: 978-0071051606
8th Canadian Edition
Authors: Stephen A. Ross, Randolph W. Westerfield
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