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To: Altariel

And another thing Christine, your aunt let you borrow the money interest free. Had you taken a loan, even at 3%, you would owe the bank an additional $3780 in interest over the 8 years. Money that your aunt is willing to forgive. So your aunt not only lent you 30K, she also is forfiting 3780 in profit she could have made in a smart investment.


11 posted on 07/24/2013 10:03:51 AM PDT by Sergio (An object at rest cannot be stopped! - The Evil Midnight Bomber What Bombs at Midnight)
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To: Sergio

Good point, not to mention how much the value of the dollar has declined. Gasoline, alone, was at least 40% less, back then, so even if the $30,000 is repaid in full, it still is a net loss (although Auntie did engage in some financial speculation, regarding possible profit).


15 posted on 07/24/2013 11:45:15 AM PDT by jttpwalsh
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