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| Money Mart |
At Money Mart, they are offering $15,000.00 for 5.0% monthly interest. We figured that if they were offering $15,000.00 at 2 or 3% APR, which is about what a GIC is offering in Canada, today, then they would have a tidy business.
So, month one, you have $15,750.00, which is 18K money.
So, month two, you have $16,537.00, which is Devialet D-Premier type of money.
5% monthly works to 79.59% APR.
So, after one year, your 15K becomes ...
So, after year one, you have $26,928.50 which is very little money, not even $30,000.00, you can not spend.
So, after year two, you have $48,378.85 which is DAT (Digtal Audio Tape, 1985) money.
Initial Investment APR Result
Year One $15,000.00 CDN 1.7959 $26,928.50
Year Two $26,928.50 CDN 1.7959 $48,378.85 CDN
JP 2018/04/13
www.hifiart.ca
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