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Posted By: cmoking

Andrew, thanks for elaborating. I still have a tough time believing it. I will assume there is a miscommunication or misinterpretation at some point in the line. Maybe it is my misinterpretation. When you say 5% quarterly, I assume you mean for every $1 million they have in the bank, the bank pays them $50,000 every 3 months. Assuming no interest on interest for a minute to make the calculations simple, that would amount to $200,000 on the $1 million. That's what it sounds like you are saying. If that's the case, I'd really love to know which bank it is, because it will be bankrupt soon.