Bank of Paragon

Alright, so I've come to the final conclusion, I'll be making interest monthly, so at the end of every month you'll receive your interest at a 8% interest rate every month with a minimum deposit of $20,000. Resulting in a $1,600 profit every month if you go with the minimum deposit..

 

Huh, seems good heh, sorry for all this comfusion. Obviously it's my first time running a bank.. Lol.

 

The Simple interest example (Ex. 2) would be correct. Interest is decided by the amount of money initially in your account. However should you deposit more money then it'd be added to the money gaining interest.

 

For example,

$20,000 * .08 = $1,600
Now, say you deposit 50k to your 21,600 bank balance.. The interest wouldn't be counted in your interest addition.

$70,000 * .08 = $5,600

 

Well, after finishing and thinking this all over, I've decided the following:

Imterest Rate (Checking/Savings):
8% - Monthly/10% - Bi-Monthly
Compound Interest/Simple Interest

Bank Activity Cooldown (Checking/Savings):
1 Month/2 Months

Minimum Deposit(General):
$20,000

 

To be honest, the only time I've lotto 'do your loan money was during that crazy lotto which was that 20k loan the rest have been either money signs stored away, or maybe loans coming back to me at the right moment, lol. I don't normally spend loans on Lotto

 

Haha, that'd be a clever way to work around the interest rule.. Hmm.. I think I change my mind. Compound interest would be the simpler solution to avoid confusion.

 

Money recieved ingame

 

***Transaction Successful***

Investors involved:
@legotom001 - $20,000
@BlazeInfinite - $40,000

 

Sorry, I had forgotten to remove that, it's no use since you will be reimbursed if you lose your money to the loan. When/if I get money back from the loan, you will get your share of the profit (45%) sorry.

 

By the way? I did not know your money was to savings, it goes to checking by default, I don't remember seeing anything specifying it going to savings