A new Mercedes?
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05-03-2012, 09:09 PM
Checking mattress
05-03-2012, 09:13 PM
05-03-2012, 10:42 PM
Don't think we quite have the $1m to plunk down to get the free car. I'm sure there's a catch to their offer. There always is.Originally Posted by Retread
05-04-2012, 05:11 PM
The Mercedes is the upfront interest. I.e. At maturity you just get your million back. If you check out early the costs of the car is removed from the million. It's actually less than 2% and on a 5 year agreement.
Every now and then one of these things works out really well. In Mr peanuts time of very high interest rates, we deposited a #10K CD for 10 years with a bank in Humble, TX. Our return was an immediate handing over of an Apple IIe computer and earned 12% interest compounded continuously. Within a couple of years the rate had slipped to under 10% and just kept sliding. We were offered 5% for a one year when we came in to cash out our $30k plus.
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