The Federation's loan interest rate was 5.7 percent, and it fluctuated wildly. After all, every industry was developing now, and they all needed money.
So loan interest rates could change at any time. Sometimes the difference was more than one percent, making them highly unstable.
It was 5.7 percent now, but it might increase or decrease later. That was perfectly normal.
Meanwhile, deposit interest rates were below three percent, around 2.8 percent. Putting money in the bank wasn't very worthwhile now; it couldn't even outrun inflation.
That might also be why Federation citizens disliked saving. They would rather spend their money than put it in the bank to deal with emergencies.
"How much do you earn each month?" the Legal Specialist asked, taking out a sheet of paper and beginning to calculate.
The shop owner thought for a while before stammering, "Around nine hundred to a little over a thousand. Not much."
The Legal Specialist whistled. "That income isn't low in Bu Peien."
The "Minimum Wage Law" wasn't meant to serve as guidance. In other words, it merely set a floor and provided an interpretation.
Bu Peien's local minimum hourly wage was close to three hundred, but most people earned more than that—around three hundred forty or fifty, or three hundred seventy or eighty.
Workers in other industries earned somewhat more, usually around four hundred. Only those in finance, lawyers, and dentists earned relatively high salaries, though that still depended on the individual.
Some earned less than ordinary laborers, while others had long since broken through the ceiling of the word "salary."
Around a thousand wasn't a small amount at all.
Besides, he had lied.
In truth, his shop could provide him with a monthly profit of thirteen or fifteen hundred. He didn't want to say that much; he wanted