3 ms·
That just sounds like interest with extra steps.
by willcipriano 5y ago
That just sounds like interest with extra steps.
- getcrunk 5y agoactually its interest with the least amount of steps. Amount due isn't variable and no compounding.
- imtringued 5y agoNon compounding interest? I think there is a better word for this.
- btdmaster 5y agohttps://en.wikipedia.org/wiki/Interest#Simple_interest https://en.wikipedia.org/wiki/Interest#Simple_interest
- rootusrootus 5y agoStill has a time component, though. A flat 50% that is due whether you pay it off in 1 month or 60 months is a fee, not interest.
- ummonk 5y agoThe term is “fee”. It’s a 50% lending fee.
- TuringNYC 5y agoIt is a static markup but not interest, as interest varies with time and is dynamic. This is a markup regardless of time.