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 Arithmetic in Ladland

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Otterfan
Baiting Guru


Joined: 14 Mar 2007
Posts: 2481
Location: UK -- land of otters and non-otters


PostPosted: Wed Aug 08, 2007 11:29 am Reply with quoteBack to top

I'm dealing with one of those "I can give you a loan" lads, and managed to negotiate a reduction in the 2% interest rate he was originally charging, bringing it down to an impressive 1.85%. (On a loan of 50,000, that 0.15% means a big saving.)

Anyway, he replies with the new terms:
Quote:

The interest rate is 2%.
LOAN DETAILS
amount: 50,000
interest rate: 1.85%
duration given: 5 years
total interest: 1000
monthly installment: 92.5 counting after 2 months of transfer
loan type: unsecured
unsecured loan insurance cost: 1000 pounds


Now, I'm no accountant, but even I can spot something doesn't add up there. But I shouldn't complain as it seems to be in my favour, over all.

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fawnykate
Master Baiter


Joined: 17 Jun 2007
Posts: 143


PostPosted: Wed Aug 08, 2007 11:49 am Reply with quoteBack to top

I like it , this lad could slash my mortage payments Smile Does he do mortages?
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Tommo Shanter
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Joined: 13 Jan 2006
Posts: 5379
Location: Whom the gods would destroy, they first make mad. - Euripides


PostPosted: Wed Aug 08, 2007 12:17 pm Reply with quoteBack to top

Lads and arithmetic are an anathema. Check out the certificate I posted today on the passport/RSOT thread and you will see what I mean. Laughing

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