4 ms·
> 1.5% in 3 days. That's not even an annualized figure. If annualized it would be 1.5%/3*365=122% Your formula for annualized interest rate is incorrect. Inter
by afc 5y ago
> 1.5% in 3 days. That's not even an annualized figure. If annualized it would be 1.5%/3*365=122%
Your formula for annualized interest rate is incorrect. Interest compounds.
1.5% in 3 days is 612% annualized, not 122%, a large difference. You can compute this thus:
pow(1.015, 365.0 / 3)
- anonymouse008 5y agoNow do payday loans… it’s sickening. When US leadership speaks about systemic racism, and they don’t talk about payday loans and overdraft fees I can’t take them seriously. It’s insulting
- kwere 5y agomaybe because is a political buzzword to weaken the opposition power and nothing more