Thanks. Now would you agree a 15% one time interest should not be compared to a 535% APR loan? I think it would not fit the right context and it should be placed in perspective. It makes it look like a huge interest blown out of it's proportions while it's not.
Well, a 15% per month loan
IS 535% APR, but if it is only loaned once, then comparing it a year is irrelevant.
Yes exactly, you express it better.
So would you agree that:
- 535% APR based on 1 interest term is sustainable
- 535% APR based on 12 interest terms is not sustainable
500% APR is unsustainable.
Your statement is not taken the terms into account. That's what I meant with, "it should be placed in perspective.".