Son_of_Perdition
Senior Member
My wife got an advertising flyer over the weekend. One of the ads was for a walk in tub. She wants to replace the jetted tub that was in our home when we bought it. The ad went on to explain the costs. We would be required to pay 1/3 down and could finance the remainder at 9.9% for a period of 10 years (120 months) with payments of $150.00. If it wasn't so laughable and ridiculous I shudder to think how many poor souls have fell for that ploy. I know you could all pay it off immediately but there are a few of us who would be at their mercy.
Curious as I am I went on my favorite calculator site and plugged in numbers. Backward figuring armed with the interest rate, the length, the percentage down and the easy payment amount, I arrived at an original cost of $17,100 for the tub. $5,700 down and finance $11,400 at 9.9% for 10 years. Total cost with interest would be $23,700! Who in their right mind would fall for this legal scam?
Curious as I am I went on my favorite calculator site and plugged in numbers. Backward figuring armed with the interest rate, the length, the percentage down and the easy payment amount, I arrived at an original cost of $17,100 for the tub. $5,700 down and finance $11,400 at 9.9% for 10 years. Total cost with interest would be $23,700! Who in their right mind would fall for this legal scam?