Transcription of Document FFDoc-1287.pdf

Mon Sept 15 1980

dear Betty

The money ($1000) you asked to borrow is enclosed as a cashier's check made out to you. I hope this will help to put a reliable set of wheels under you, with Roy's help (and maybe a little luck).

I think it would be better if we put this loan arrangement on a somewhat business bases. Here, auto loans from a bank are running at 12-13% interest, depending on the term of the loan (24, 36 months), while savings accounts are receiving 5-7% interest. This loan is not conditional on your agreement, but I hop you would be willing to repay it over a period of, say, 2 years at 6 percent interest (savings acct rate). This would amount to payments of $44.32/mo, for a total of $1063.68, all told. Other schedules & terms are possible, but let me have your reaction.

Love, Frank.

PS - if you wanted to pay an even $50/mo at the same 6% interest it would take 20 payments of $50 plus one final one of $56.24