Sony NW-A3000 20GB MP3 Player - £99.97!

pointsofview

It's interesting to see this thread still doing the rounds.

debs626

thes were down to about £85 in my local ......... Goole

gromituk

quoia wrote:

Think your maths went a bit astray in attempting to work out an "APR"
It's only 20%

*grin* that's why I didn't say "APR". You'd still be paying £180 annual interest on a £100 loan though!

Woby_Tide

ramtec wrote:

Thanks OP just got two (one silver, one black) for my local. Still had them priced at £149.99 scanned at £84.97

Went out of hours so bod went out back to get them (lucky the boxes are purple), so he didn't notice they were the wrong ones! Now which should I keep and which one should I give to the Mrs?

In our Tesco the silver models were 6GB not 20GB, there was also a Creative Zen Micro 6GB for £84.97 too

quoia

gromituk wrote:

*grin* that's why I didn't say "APR". You'd still be paying £180 annual interest on a £100 loan though!

Sorry but still an error in your maths / logic.

How can you multiply the length of time by 9 (6 weeks into a year)
and do the same to the "extra £20" making it £180 ....

.... WITHOUT doing exactly the same to the "amount borrowed" ?
Surely the £100 over 6 weeks should be £900 over a year ?

Still 20% !

gromituk

I'm sure there are a lot of errors in my maths/logic (eg compound calculations), but it doesn't make sense to me that having to pay 20% interest over a six week period is equivalent to an annual rate of 20%. If the loan could be paid off over a whole year, while only incurring 20% interest, then it would make sense. But our friend is not offering this - he expects it all to be paid back within six weeks while still making 20% of the sum owed.

ferretktf

For a debt of £100 to grow into £120 in six weeks is actually an APR of 389%

(3.01% per week, compound)

In fact it is actually higher than that because it is only for the first week that the debt is £120, on the second week it is £100, the third week £80, etc. etc.

So yes - you are screwing your "mate" well and truly.

If you had left your £100 in a bank, even a money-saving one paying 4% interest, you would have received £0.46 over the six weeks - or around 27 PENCE after tax.

If it was my "mate" I would have done it for cost price plus maybe a pint. Surely that is what "mates" are for

jackashton1

anywhere in sw london got these? or anyone wanna pick one up for me i want one one for my brother

Discogod

Woby_Tide wrote:

In our Tesco the silver models were 6GB not 20GB, there was also a Creative Zen Micro 6GB for £84.97 too

that zen micro 6gb is a very good deal. the refurbs on ebay creative store are going at £79 each.

what colour was it & which store?

rodhull

none in New Malden - went in last night. d'oh