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> Here in Uruguay banks have 40 to 50% annual interest rate The article mentions 30% weekly interest rates. That would compound quickly and overtake 40-50% an
by khedoros1 10y ago
> Here in Uruguay banks have 40 to 50% annual interest rate
The article mentions 30% weekly interest rates. That would compound quickly and overtake 40-50% annual rates pretty easily.
- GFischer 10y agoYou're right, I missed that one, I read the other one: 10,000 yuan borrowed on an annual interest rate of 24 percent within a week. Even the greediest moneylenders here rarely go beyond 10% weekly.