04-24-2021, 11:46 AM
Thank you, teacher. That is clear and helpful. Paul Simon's observation, "When numbers get serious, they leave a mark on the door" has always resonated with me.
So here's the plan: I'm going to lay out $21,476 to import a CB1100 RS from Japan. I could pay cash but the dealer will take $20,000 if I finance it through their usurer at an outrageous 3%. As the Bank of Stichill is offering me 5.98% on my meagre savings, I'm going to take the finance. As one balance goes down, the other goes up and I should actually be a tad shy of $1,900 cash in front at the end of it all.
Except, I woke up and I'd been dreaming.
Apropos of nothing at all, my monthly credit card statement once told me that if I incurred no further charges on the card and paid only the minimum monthly payment, it would take me 'more than 83 years 3 months' to pay it off and total interest would be 'more than $106,197,608.00'.
So here's the plan: I'm going to lay out $21,476 to import a CB1100 RS from Japan. I could pay cash but the dealer will take $20,000 if I finance it through their usurer at an outrageous 3%. As the Bank of Stichill is offering me 5.98% on my meagre savings, I'm going to take the finance. As one balance goes down, the other goes up and I should actually be a tad shy of $1,900 cash in front at the end of it all.
Except, I woke up and I'd been dreaming.
Apropos of nothing at all, my monthly credit card statement once told me that if I incurred no further charges on the card and paid only the minimum monthly payment, it would take me 'more than 83 years 3 months' to pay it off and total interest would be 'more than $106,197,608.00'.