4 ms·
You pay back last year debt with the money you borrow this year.
by helge9210 5y ago
You pay back last year debt with the money you borrow this year.
- ganzuul 5y agoVISAs business model in a nutshell, evidently.
- Sam_Odio 5y agoPaying back debt requires income, which is taxed. In this example you continue to incur new debt, but at a rate not more than the growth rate of your assets.
- weird-eye-issue 5y agoWith a PAL you don't have to pay back the debt, just the interest, as long as the assets don't drop in value too much