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ironcross360 (OP)
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March 01, 2013, 02:33:26 PM
 #1
Im giving loans of .2btc     Must be paid within 1 week .3btc 2 weeks .35btc 3 weeks .5btc
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Hydrogen
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March 07, 2013, 12:02:41 PM
 #2
Interest?
BurtW
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March 07, 2013, 04:27:57 PM
 #3
Quote from: Hydrogen on March 07, 2013, 12:02:41 PM
Interest?
It is pretty high - but so is the risk.

Example 0.2 borrowed 0.3 paid back 7 days later so 0.1 interest on a 0.2 loan in 7 days.

Your homework is to figure out the equivalent APR of this loan.
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March 07, 2013, 04:59:42 PM
 #4
Quote from: BurtW on March 07, 2013, 04:27:57 PM
Quote from: Hydrogen on March 07, 2013, 12:02:41 PM
Interest?
It is pretty high - but so is the risk.

Example 0.2 borrowed 0.3 paid back 7 days later so 0.1 interest on a 0.2 loan in 7 days.

Your homework is to figure out the equivalent APR of this loan.

Hint:  50% interest compounded 52 times.
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bootmii
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March 10, 2013, 03:02:43 AM
 #5
Even a payday loan should not have 143,464,837,548% APR.
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bapakece
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May 17, 2013, 03:58:33 PM
 #6
yeah the APR  isn't  reasonable
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