The bail out loan.

So I have been stating that we should do the bail out. Not as a Grant, but as a loan. While as a tax payer I do not mind loaning the banks the money to get out of the mess, I am by no means willing to just hand them a blank check. To this end I have figure out what the payment would be at a modest 3.0% over the course of 30 years.

Loan Principle: 700000000000.00

Interest: 3.0%

Monthly Payment: 2,951,228,236.11

Yearly Payment: 35,414,738,833.92

10-year Total: 354,197,388,333.20

30-year Total: 1,062,442,164,999.60

So over 30 years the American tax payer would receive a little over 300b in return for their generosity of bailing out the Greedy Mortgage industry. Not bad. I didn't even give them the prime rate which is like 5.0 which means we would be looking at almost double that. Just food for thought. 300 billion over 30 years is infrastructure, or health care, or improved schools, etc.... Not a bad trade off in my opinion.

EDIT: At 5%

Monthly Payment: 3,757,751,361.00

Yearly Payment: 45,093,016,332.00

10-Year Payment: 450,930,163,320.00

30-Year Payment: 1,352,790,489,460.00

Side note

Anyone Available to help me next Saturday. I have to move the my fish tank to my new place, the bookshelves and books will be going to storage. And after that my tenure with the HODO will be no more. poke at me if you can help. Thanx.