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June 5, 2026, 12:00 pm
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Economics 101
Published:
Updated:
A man walks into a New york bank and says that he is going to Europe for two weeks and wants to borrow $5000.00. He offers his Rolls as collateral. The bank is satisfied and lends the man the money. The bank parks the rolls in an underground lot that is secured.
After exactly two weeks the man comes back to the bank on time like he said he would, and repays the $5000.00, with an interest of $15.41.
The bank manager is pleased with him for paying promptly. The manager tells the man that he appreciates his business. However, he says " We checked your records and found out your a multi-millionaire. Why would you borrow $5000.00?
The man replied by saying " Where else can you park in New York, for two weeks, for only $15.41?"

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