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12-12-2015, 08:54 PM
(This post was last modified: 12-12-2015, 09:44 PM by derJaeger.)
This is my Bank ;P
you can borrow chash here the max amount is 500k backpay in max. 1 month and you will pay back with 5% interest per day.
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If I did the math correctly, and I'm pretty sure I did, that's 2160k(=2m 160k) after a month(30 days). That's about 4 times the amount you borrowed, and if you ask me, that's pretty much a rip-off.
26.08.15-Fang of Fenrir
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(12-12-2015, 10:10 PM)Krex link Wrote: If I did the math correctly, and I'm pretty sure I did, that's 2160k(=2m 160k) after a month(30 days). That's about 4 times the amount you borrowed, and if you ask me, that's pretty much a rip-off.
And thats why borrowing = bad
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(12-12-2015, 10:10 PM)Krex link Wrote: If I did the math correctly, and I'm pretty sure I did, that's 2160k(=2m 160k) after a month(30 days). That's about 4 times the amount you borrowed, and if you ask me, that's pretty much a rip-off.
500k is max. Let's say we borrow 500k, then this is what you pay if you wait 1 month:
500k : 100 x 5 = 25k each day.
30 days x 25k = 750k
You pay the 500k and the 750k which is a total of 1.25m. How did you got 2.16m?
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I was assuming that the interest would stack, as they normally do.
Say you start with 500k, after one day you're at 525k, as you said, but that would make the 5% interest rate 26.5k, instead of 25k.
As a graph, to visualize it, it would be F(x)=500*1.05^X. With a decent-ish calculator you can take a look at it.
I've been using the one from Texas Instruments we use in school, and that's how I got to my result.
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(13-12-2015, 01:25 PM)BlαcĸSɴιper link Wrote: [quote author=Krex link=topic=50372.msg250299#msg250299 date=1449958231]
If I did the math correctly, and I'm pretty sure I did, that's 2160k(=2m 160k) after a month(30 days). That's about 4 times the amount you borrowed, and if you ask me, that's pretty much a rip-off.
500k is max. Let's say we borrow 500k, then this is what you pay if you wait 1 month:
500k : 100 x 5 = 25k each day.
30 days x 25k = 750k
You pay the 500k and the 750k which is a total of 1.25m. How did you got 2.16m?
[/quote]
I = PRT (the best reasons to stay in school)
