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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 17, 1938
Page
10
The description outlines a home featuring improved kitchen planning, built in fixtures to reduce drudgery, and better room arrangement aimed at reducing construction errors and easing housework for the housewife.
The passage explains a loan example where borrowing five thousand dollars under the old method required renewals every 2 to 3 years with high charges. Over 25 years the borrower paid about six thousand eight hundred seventy five in interest, yet the principal remained five thousand, totaling eleven thousand eight hundred seventy five dollars spent.
The plan borrows 5000 dollars and trims principal by 50 dollars every three months. Over 25 years total interest reaches 3472.25 dollars at five percent, leaving debt free but at a cost of 8472.25 dollars, a net saving of 3462.75 compared with the old method.
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