The Man in Power After Being Married into Her Family novel 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°/°!

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