TV advert offers 2356.00% APR !!!

redpete

halifax71 wrote: »

How do you get that figure? Have you just done 20% (i.e. £2 out of £10) multiplied by 52? In that case you're wrong.

I stand by my statement by the way. In fact i reckon it's 1.3m% APR.

But you've bought him the beer and given him the £10 back after the first week, so the 'interest' is not compounded. Unless he says he wants 1 beer after the first week, then a pint and 4 fluid ounces of beer after the second week, then nearly a pint and a half the third week, and just over 2 pints the 4th week. After a year you would have to buy him nearly 11000 pints and most people would struggle to drink all that in the evening.

It's too late to check the spreadsheet properly, so maybe you're right.

UNHAPPY_2

are you sure you got those figures right, 1.3m% and 11,000 pints and how did we go from TV advert offers 2356.00% APR !!!
too owing your best mate 11000 beers at the end of the year for 1 beer at the start of it

diable

halifax71 wrote: »

Have you ever borrowed £10 off your mate for a week and then bought him a beer as a thanks.

The £2 (ish) for the beer equates to over 1,000,000% APR

jeeez lucky you don't live in London £3.40 to £4.10 a pint............

Wutang_2

DGJsaver wrote: »

LOL :beer:

"LOL" and smilies.

Throw Hollyoaks in and a red bull and we hit the jackpot.