NovelEnglishPorter's words instantly caused a commotion amongst more than seven hundred or so members of the Wade
family's collateral families!
Although these members of the Wade family's collateral families were not top entrepreneurs, they were still
much more astute compared to those brainless young people who would swipe and use credit card installments
indiscriminately. Those brainless young people thought that paying in installments would be a very cost-effective
thing, but what they did not know was that the bank had already seen right through their mindset to the core.
The interest rate for each installment was 0.006%, and if ten thousand dollars was divided into twelve
installments, they would only need to pay an extra sixty dollars a month. However, the amount for twelve
installments would be seven hundred and twenty dollars a year! Compared to the principal amount of ten
thousand dollars, the annual interest rate for one year would be 7.2%!
This was also just a rough calculation. After all, the ten thousand dollars would not be repaid in a single payment,
but it would be paid in twelve monthly installments. Even though the principal amount for each of these
installments was decreasing, the
interest rate was already fixed according to the initial principal of ten thousand dollars. If this was calculated and
taken into account, the actual interest rate would be even more than 13°/°!
This interest rate could be described as profitable in the financial market.
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Each of the members of the Wade family's collateral families had a very good relationship with banks and
capitalists. So, if they really wanted to get a loan, they could actually easily obtain a large loan with an actual
annualized interest rate of 5%. So, when they heard about this installment plan that Porter was offering to them,
they could not help but curse at him for his bad intentions in their hearts.
Therefore, someone then spoke up and said, "Lord Waldron... | still have a shortfall of two billion dollars. I've
already taken out all of my cash. | beg you to please giveone day's grace. | will be able to get the two billion
dollars through a mortgage in just one day, and | will transfer the money over to you then!"
The others also chimed in. "That's right, Lord Waldron. Just give us one day, and we will be able to get the
mortgage! Please give us a little more time!"
Porter said coldly, "I can't be lenient. All of you will have to make up for the money owed within one hour.
Otherwise, you will have to sign the agreement to pay in installments!"
All these members of the Wade family's collateral families instantly had a troubled expression on their
faces.
At this moment, Tony blurted out, "Lord Waldron, | am willing to pay in installments."
The crowd did not expect that Tony would actually be the first person to give in. Just as they were about to scorn
him, they heard Tony saying "I'm willing to divide all the money that Lowe into two installments. | will definitely
make up for the sum of this money within two months."
When the others heard this, they cto a realization immediately.
All of them were shocked because of the handling fee which was 0.006%. However, they had already forgotten
that they could choose to lower the number of installments.
If they were to divide it into two installments, they would only need to pay 0.006% twice, which would only add
up to 1.2%.
This way, it would naturally be much more comfortable for them.
So, the group of people then began
to actively express their position. Sof them wanted to divide the money into two installments, swanted
to divide it into three
0
installments, and the most that they were willing to divide it was into six installments and nothing more than
that.
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Porter could not help but frown. He could already guess the intentions of this group of people in his heart. They
would definitely want to reduce the number of installments as much as they could before seizing the tto
raise funds to pay for the installments. This way, they would also be able to get rid of the trap of the high
interest rate for the installment payments.
However, at this time, Porter also did not know how to specify the regulations. Charlie also did not tell him
whether he would require a specific number of installments for the installment plan or not.
Just when Porter was at a loss as to
how he should define it, he suddenly
heard a familiar voice say out loud, "Lord Waldron, | suggest that you should give a fixed installment ratio. All the
people who cannot pay Cash and are choosing to pay in
installments would ha
to pay a minimum of sixty installments! There is no ceiling to
it!"
Everyone immediately followed the sound only to see Charlie, who was accompanied by Stephen, stride in.
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