(The Amazing Son In Law) Hero of Hearts Novel Chapter 3637
-
- July 11, 2023
Chapter 3637
Although these side members of the Wade family were not top entrepreneurs, they were still much smarter than those mindless youngsters who could use credit card installments.
Those brainless youngsters thought that paying in installments was a very cost-effective thing to do, but they didn’t know that the bank had thoroughly eaten into their psychology.
The interest rate for each installment is six thousandths. It seems that ten thousand dollars is divided into twelve installments.
It’s only an extra sixty dollars a month, but twelve installments a year is seven hundred and twenty dollars! That’s not any less of money to ignore.
That’s a 7.2% APR for a year’s installment relative to the principal of $10,000! That’s also a good example.
This is just a rough calculation. You should know that $10,000 is not paid back once a year, but in 12 monthly installments.
The principal amount is decreasing in each installment, but the interest rate is fixed once. With a principal of $10,000, the actual interest rate is even more than 13% if you calculate it this way!
This interest rate is a huge profit in the financial market.
Every one of these Wade family members has a very good relationship with banks and capital. If they really want to take out a loan, they can easily get a large loan with an actual annualized interest rate of less than 5%.
With this installment plan given by Joseph, one can’t help but cuss him out for being black-hearted.
Therefore, some people said, “Master …… After all my cash is given out, there is still 2 billion. Please allow me to have one day. Only one day to take this 2 billion by way of a mortgage and put it into your account!”
The others echoed, “Yes, just give us one day to get the mortgage! Please give me a little more time!”
Joseph said coldly, “Grace and power are out of the question. Each of you must make up all the money owed within one hour, or you must sign an installment agreement!”
These members of the Wade family’s sideline suddenly frowned.
At this moment, Milton blurted out. “Master, I am willing to pay in installments!”
The crowd did not expect Milton to be the first to give in and was about to despise.
Only to hear Milton continue to say.” I want to divide all the money owed into two installments. Within two months, I will make up all the money.”
When the others heard this, they imm
🌟 Unlock Full Access – Support Our Work! ☕
We pour our hearts into translating this novel, ensuring you enjoy every chapter.
If you truly love this story and appreciate our efforts, consider supporting us with just one coffee. ☕✨
- Full, ad-free reading experience 📖
- Exclusive early access to new chapters 🚀
👇 Already donated? 👉
and enjoy ad-free, unrestricted chapters.
They had just been shocked by the six thousand installment fee, but they had forgotten that they could choose the minimum number of installments.
If you split it into two installments, you only need to pay two six-thousandths, which adds up to 1.2%.
This makes it much more comfortable, naturally.
So, a group of people began to actively express their views.
Joseph couldn’t help but frown, guessing in his mind the intentions of these people. They must have wanted to first try to install as little as possible, and then grab the money to fill this loophole of installment payment.
In this way, they can get rid of the high-interest rate trap of installment payments.
However, Joseph did not know exactly how to define it at this time, and Charlie did not tell him how to deal with the specific number of installments on the road to installment payment.
Just when he didn’t know how to define it, he only heard a familiar voice say loudly.
“Master, I suggest you still give a fixed percentage of installment payments. Anyone who cannot pay in cash and chooses to pay in installments should choose at least six installments. Ten installments, uncapped!”
