If you've ever taken out a loan, you're probably familiar with the details of taking on debt.

You have an amount that you borrow, an interest rate, and a term over which the debt is paid back.

However, sometimes a term might be extremely long.

In a few cases, the debts can be served in perpetuity.

Learn more about the extremely old debts which took forever to pay off

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If you take out a mortgage on your house, it'll probably be for somewhere between 20 and 40 years. You get a set amount of money and then pay off the debt and fix payments until the debt is gone.

Simple.

However, debts that you or I might take out are fundamentally limited by one thing, human life spans.

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