Okay, say I go to college and hit Spring Break where I have to pay $5,000. I have no cash. Bank loans are $20,000. That's a bit confusing for me considering I only need to borrow $5,000. I'm noob; please don't laugh.
Bank Loans in the game of Life?
that's the caveat. You can only borrow from the bank in increments of 20 grand. It doesn't matter how much you need or what you need it for, you just have to borrow in increments of 20 grand.
Think about it like going to the ATM. If you need 5 bucks, you have to take out at least 20 right? Same deal.
Bank Loans in the game of Life?
yOU HAVE TO BORROW IN LUMPS OF 20.
Bank Loans in the game of Life?
As the other two answer state that loans are only in $20,000 as indicated on the red promisary note. In your example, you need $5,000 but have $0. Take a red note, a loan for $20,000, $5,000 goes towards the spring break trip, so you get an additional $15,000 in cash.
Bank Loans in the game of Life?
You can only borrow $20,000 lots and later pay them back at 5,000 extra.
You have more career choices later if you go to college.
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