Lesson in Finance
A rumpled man walks into a bank in New York City and
asks for the loan officer. He says he is going to
Europe on business for two weeks and needs to borrow $5,000.
The bank officer says the bank will need some kind of
security for such a loan. So the man — clearly an
eccentric — hands over the keys to a new Rolls Royce
parked on the street in front of the bank. Everything
checks out, and the bank agrees to accept the car as
collateral for the loan. An employee drives the Rolls
into the bank’s underground garage and parks it there.
Two weeks later, the man returns, repays the $5,000 and
the interest, which comes to $15.41. The loan officer
says, “We are very happy to have had your business, and
this transaction has worked out very nicely, but we are
a little puzzled. While you were away, we checked you
out and found that you are a multi-millionaire. What
puzzles us is why would you bother to borrow $5,000?”
The man replies, “Where else in New York can I park my
car for two weeks for 15 bucks?”