Can Citibank charge 150% interest on a bar loan?
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Date: May 17th, 2009 2:07 AM Author: submissive aromatic senate organic girlfriend
lulz
"150% interest" is misleading.
What is the term you are paying it over?
(http://www.autoadmit.com/thread.php?thread_id=1000583&forum_id=2#11756181) |
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Date: May 17th, 2009 2:17 AM Author: bright galvanic bawdyhouse international law enforcement agency
let's say i lend you $100 for one month at 5% monthly interest, non-compounding.
the following month, you will owe me $105.
but let's say your repayment period is NOT one month - let's say it is ten months. still at 5% monthly interest.
do you understand that after 10 months, you will have paid me MORE than $105, but that the interest rate was STILL only 5%?
(http://www.autoadmit.com/thread.php?thread_id=1000583&forum_id=2#11756226)
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Date: May 17th, 2009 2:06 PM Author: costumed irate pisswyrm house
High schools shouldn't be allowed to graduate anyone without first teaching them about interest.
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fixed that for u.
(http://www.autoadmit.com/thread.php?thread_id=1000583&forum_id=2#11757813)
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