The Man in Power After Being Married into Her Family

Chapter 3498

Porter’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°/°! Content from NôvelDr(a)ma.Org.

This interest rate could be described as profitable in the financial market.

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... I still have a shortfall of two billion dollars. I've already taken out all of my cash. I beg you to please give me one day’s grace. I will be able to get the two billion dollars through a mortgage in just one day, and I 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 i n 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, I 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 I owe into two installments. I will definitely make up for the sum of this money within two months."

When the others heard this, they came to 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 o f 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. Some of them wanted to divide the money into two installments, some wanted to divide it into three installments, and the most that they were willing to divide it was into six installments and nothing more than that.

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 time to 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, I suggest that you should give a fixed installment ratio. All the people who cannot pay cash and are choosing to pay in installments would have to choose 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.