Long story short, my brother loaned my parents 25K to help buy a house for themselves after living in an apartment for a few years. The agreement is once my parents move and sell the house, they are going to pay back my brother the 25K plus interest.
My brother is now saying he is going to charge 10% interest per year compounded. Am I wrong in thinking this is a bit high?? Just seeing what you guys think and how I should handle the situation. I’m not too familiar with this kind of stuff. Thank you!
Submitted January 22, 2022 at 12:05AM by P71josh https://ift.tt/33DGcNP
