lovenovelstory Chapter 30: 2% Monthly Interest, Scammed by My Dad
Chapter 30: 2% Monthly Interest, Scammed by My Dad
After a long while, Lin Han slowly raised his head.
Look at the expectant eyes below the stage.
223,700 yuan.
This number weighed heavily on his mind.
What was the concept of 22 in 1992?
That's enough to buy a spacious, bright, and enviable apartment in a good location in Beijing.
It was a huge sum of money that an ordinary worker could accumulate by working for a hundred years without eating or drinking.
It's the kind of amount that can make these relatives, who toil in the fields and scrimp and save, feel like the sky is falling and the earth is collapsing.
"Waaah..."
An older woman could no longer hold back and covered her mouth, sobbing softly, her shoulders shaking.
"That's my child's tuition fee, and it's money for my mother's medical treatment..."
"It's over, it's all over..."
A man crouched down, clutching his head, his voice hoarse.
After all, based on this calculation, they felt that Lin Hanjiang couldn't afford to pay 22 yuan.
An atmosphere of despair, like ink dripping into clear water, quickly permeated the empty classroom.
How can Lin Hanjiang, a young man who is still in school and has just gained some fame, repay this debt?
Can you really earn 22 yuan by singing?
That's a complete fantasy!
However, when Lin Hanjiang looked at the shocking numbers on the paper, a different kind of turmoil surged in his heart.
22……
That's really difficult!
But there was nothing that could be done; his father had accumulated debts from raising funds for business.
At this time, everyone was pooling their funds to start businesses and make money.
At this time in Huaxi Village, Wu Renbao saw the old man's southern tour and keenly judged that the price of raw materials was about to soar.
They decisively gathered funds from the village and then borrowed money.
Borrowing money to hoard aluminum ingots.
Huaxi Village purchased aluminum ingots for more than 6000 yuan per ton at the time, but the price rose to more than 18,000 yuan per ton three months later.
In just three months, the price tripled, earning Huaxi Village its first pot of gold for its rapid development.
Lin Hanjiang's father, Lin Runsheng, was the first college student in the village and the first person to go into business and achieve some success.
I often hear his father talk about things from the past.
They say they eat at everyone's house, meaning they go to their relatives' houses to freeload.
He didn't have money to go to university, so the villagers chipped in.
It's likely that back then, he must have been motivated by a desire to repay a debt of gratitude and lead his fellow villagers to prosperity, which is why he amassed such a huge sum of money.
However, he made the wrong bet, or perhaps he was simply unlucky, and ultimately suffered a crushing defeat, unable to face his people in Jiangdong.
This debt is a burden, a shackle, but isn't it also a trust filled with blood and tears and hopes?
It is only natural that children should pay for their parents' debts.
Lin Hanjiang is the eldest son and the only man in the Lin family. He cannot and does not want to shirk this responsibility.
Amidst the despairing or numb gazes of the crowd, Lin Hanjiang slowly stood up.
He picked up the sheet of paper filled with debts and faced everyone.
"This 223,700 yuan." He paused, his gaze sweeping over every pair of eyes. "I, Lin Hanjiang, acknowledge it."
Dead silence.
Even the sobbing stopped.
"I don't have that much money right now," Lin Hanjiang confessed frankly, without any attempt to hide anything. "But I solemnly promise you all, uncles and aunts, that you will give me three years."
"Three years?" A low murmur immediately broke out in the audience, with voices of doubt rising everywhere.
"Three years! Isn't that too long? My family is waiting for rice to cook!"
"Who knows what it will be like in three years?"
"Xiao Jiang, it's not that we're forcing you, but too many things can change in three years!"
Lin Hanjiang raised his hand and pressed it down lightly, and the noise gradually subsided.
His tone softened, but became even more earnest.
"I understand. I understand everyone's difficulties better than anyone else. This money might be for building a house, a bride price, a dowry, or even life-saving money. My father went astray and dragged everyone down with him. I admit my mistake. I'll take the blame. Please give me three years and a chance to prove myself."
Lin Hanjiang held up the paper and pointed to his heart: "I guarantee this with my name, Lin Hanjiang, and with all my future prospects and reputation in the music industry. Please keep this IOU safe. But from today onwards, the creditor of this debt is me, Lin Hanjiang. If my career goes well and I make money, I will definitely pay it off ahead of schedule, without making you all wait three years!"
These words are a perfect blend of emotion, reason, and righteousness.
He even staked his fledgling future, which he considered his life's work.
The relatives looked at each other, perhaps there was still a sliver of hope?
It's better than having no money, right?
"etc!"
Suddenly, the man who had been squatting down stood up, looking hesitant, but still spoke.
"Xiao Jiang... when your dad borrowed the money, he did mention interest... 2% per month. This... the principal needs to be repaid, and the interest... what do you think?"
2% monthly interest!
If you deposit money in a bank now, the annual interest rate for a three-year term deposit is approximately 8%.
With a monthly interest rate of 2%, the annual interest rate is 24%.
Over three years, with interest compounding... the principal of 22 yuan would have grown to nearly 16 yuan in interest! The total principal and interest would approach 40 yuan!
Lin Hanjiang was really screwed over by his father.
Several relatives who were initially somewhat soft-hearted were also stunned. They had been so focused on the principal that they were overwhelmed by the enormous debt that they only remembered this matter now.
Some people looked embarrassed and reluctant.
"Lin Laosan! Why are you saying this!"
Second Uncle Lin Runtu suddenly turned his head and growled at the man.
"Xiao Jiang is already in such a state; we should be grateful if he can even repay the principal. You're still asking for interest; are you trying to drive him to his death?"
"That's right! Runsheng borrowed money back then because he wanted to help us make money. Now that he's in trouble, we can't kick him when he's down," Aunt Wang Chunmei said loudly, even though her family was also waiting for the money.
"You can't say that," the man called Lin Laosan said, his face flushed. "Even between brothers, accounts should be kept clear. Two percent of the profit is still money, and my family is also struggling."
"If you want interest, then we shouldn't be relatives."
"If it weren't for Runsheng's abilities, who would have lent him the money?"
"What's the point of saying all this now!"
Seeing that the situation, which had just calmed down, was about to erupt into another argument, Lin Hanjiang quickly spoke up:
"Everyone, please stop arguing."
Everyone stopped and looked at him.
Lin Hanjiang looked at all his relatives and spoke each word with unwavering resolve:
"Calculate it exactly as it's written on the IOU. The principal is 223,700. My dad promised an interest rate of 2% per month, starting from the date of the loan."
"Within three years, I, Lin Hanjiang, will repay the principal and interest in full!"
After saying that, he turned to Zu Hai, who had been looking on nervously and worriedly, and said, "Xiao Hai, wait here for me."
Then, before anyone could react, he strode out of the classroom.
Zu Hai wanted to follow, but he stopped him with a look.
Zu Hai also considered lending some money to his senior, but that was 22 yuan... and with such high interest rates.
About ten minutes later, Lin Hanjiang ran back, carrying a bulging old kraft paper envelope.
He walked to the front of the podium and placed the sealed letter face down.
"Splash—"
Stacks of neatly bound "Great Unity" (a symbol of solidarity).
"Here is eight thousand dollars."
Lin Hanjiang's voice was somewhat hoarse; this was all the money he had saved up.
The copyright fees paid to the teacher and senior student, as well as the interview fees from Guangdong TV.
"This is all the cash I can come up with right now."
He looked at his astonished relatives and said, "Second Uncle, could you please take charge of distributing this money according to everyone's urgency and the proportion of loans they took? It's just a drop in the bucket."
Lin Hanjiang pushed the cash toward his second uncle, Lin Runtu.
Lin Runtu looked at the pile of money, but instead of taking it, he sighed heavily.
"Dear elders, please forgive us for any shortcomings in our hospitality."
Lin Hanjiang bowed slightly to the crowd once again.
"Tomorrow night is my singing competition final. I have to go and prepare now."
He straightened up, his gaze sweeping over the faces with their varied expressions.
The heaviness in his eyes had vanished, replaced by a resolute determination forged in fire.
make money!
Make more money!
"I will repay this debt. With my songs, with my skills, I will pay it off in full."
After saying that, he didn't linger. He nodded to Zu Hai and turned to leave the classroom.