businessstaxes
Guest
interest is for the risk of loan default. and time wasted processing the loans.
why do you think credit card rates are 20%!
why do you think credit card rates are 20%!
Quote from EMRGLOBAL:
businessstaxes
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Man, I hope you'r are not in the Business Tax industry!
banks charge 5% on money they recived for free! They also borrow at the Discount window from the FED at .25%!
On top of that, they are lending "DEPOSIT" money, which is "FREE" money deposited by "Consumers", businesses, etc and they charge interst on it!
Last time I did math, 5% of 0 is well, a profit!
as is 5% on .25%!