Although these side members of the Arthur 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 6 thousandths. It seems that 10 thousand dollars is divided into 12 installments.
It's only an extra 60 dollars a month, but 12 installments a year is 7 hundred and 20 dollars! That's not any less of money to ignore.
That's a 7.2 percent APR for a year's installment relative to the principal of $10 thousand! That's also a good example.
This is just a rough calculation. You should know that $10 thousand 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 thousand, the actual interest rate is even more than 13 percent if you calculate it this way!
This interest rate is a huge profit in the financial market.
Every 1 of these Arthur 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 huge loan with an actual annualized interest rate of less than 5 percent.
With this installment plan given by Adam, 1 can't help but cuss him out for being black-hearted.
Therefore, some people said, "Lord…… After all my cash is given out, there is still 2 billion. Please allow me to have 1 day. Only 1 day to take this 2 billion by way of a mortgage and put it into your account!"
The others echoed, "Yes, just give us 1 day to get the mortgage! Please give me a little more time!"
Adam said coldly, "My Divine and power are out of the question. Each of you must make up all the money owed within 1 hour, or you must sign an installment agreement!"
These members of the Arthur family's sideline suddenly frowned.
At this moment, Tyler blurted out. "Lord, I am willing to pay in installments!"
The crowd did not expect Tyler to be the 1st to give in and was about to despise.
Only to hear Tyler continue to say." I want to divide all the money owed into 2 installments. Within 2 months, I will make up all the money."
When the others heard this, they immediately slapped their thighs.
They had just been shocked by the 6 thousand installment fee, but they had forgotten that they could choose the minimum number of installments.
If you split it into 2 installments, you only need to pay 2 6-thousandths, which adds up to 1.2 percent.
This makes it much more comfortable, naturally.
So, a group of people began to actively express their views.
Adam couldn't help but frown, guessing in his mind the intentions of these people. They must have wanted to 1st 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, Adam did not know exactly how to define it at this time, and Chris 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.
"Lord, 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 6 installments. 10 installments, uncapped!"
To be continued...
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