Question

Why does it take 30 years to pay off 150,000 loan , even though you pay 1000 a month

Answer 1

Interest rates i believe 

Answer 2

This would be due to interest. As the month ends, you pay $1000, but your debt has increased as interest has been added onto your loan, making you go from owing $150000 to owing $150000+x, x being the interest gained at the end of the month.