When you have a loan, how much do you have to pay?

With a $1,000 loan, you will pay $50 a month for the life of the loan.With a 20-year loan, your monthly payment is $250, and with a 30-year, you pay $550.A 40-year interest-only loan is $2,600 a month.But that doesn’t include interest on the principal, which is what the federal government pays for federal loans.Interest […]

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Why is a central loan agency so valuable?

There are three central loan agencies in Canada: the CRTC, the BMO, and the BIS.All three of these agencies have been around for decades and are well-respected for their service.But now, they’re being forced to close their doors.“In recent years, the central banks of Canada have been struggling to manage the growing costs of inflation […]

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