gather 100 persons or members. each one pay $100 a month. so combine all the money it's $10,000. and only one person gets this $10,000 each month with the promise to continue pay the $100.
for example:
1st month ---John recieves the $10,000
2nd month --- amy recieves the $10,000
.
.
100th month - Nadia recieves the $10,000
2007-02-14 15:29:34 · 13 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Another pyramid scam.
2007-02-14 15:32:06 · answer #1 · answered by concernedjean 5 · 0⤊ 0⤋
Nadia is a big loser, she waited over 8 years to get her money. Had she invested the 100 a month in the stock market over that period of time or even bought municipal bonds to be safer, she would have at least an extra $5,000 over and above the $10,000. I think that anyone who didn't get the $10,000 by the 4th year or so would come out a loser. It would be good for those payed in the first few years though. What would be more fair would be to snake the order of payment so that Nadia would get $10,000 in the 100th month and then another $10,000 in the 101st month and then everyone would be paid in reverse order.
2007-02-14 15:38:30 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You best bet would be to put $100 in a savings account per month and then let it build interest. The way you have it, it adds up to the $10,000 you have put in to it anyway after 100 months. With the savings account at least you have more to show for it in the end.
2007-02-14 15:36:12 · answer #3 · answered by teashy 6 · 0⤊ 0⤋
so NADIA pays for 8 years and 4 months a $100 before she gets her 10,000.
2007-02-14 15:43:18 · answer #4 · answered by FromJLM 3 · 0⤊ 0⤋
It's called a pyramid scheme, and it's illegal. What's to keep John, who receives his $10,000 the first month for only $100 from dropping out the second month?
2007-02-14 15:45:33 · answer #5 · answered by Brian G 6 · 1⤊ 0⤋
If you can find 100 people to pay 100.00 per month you are just the best con artist. Just how long will it be before "my turn" come up and how much will I have paid? That is going to be the question they want answere. I don't think that anyone will go for it.
2007-02-14 15:35:41 · answer #6 · answered by bajllc 2 · 0⤊ 0⤋
That would be great except "Nadia" is going to have to wait over 8 years to get her 10K. What if in that time people die or go off far away? To get people to commit that much for that length of time is nearly impossible. Do you know 100 people you can trust that much???? I dont
2007-02-14 15:34:38 · answer #7 · answered by Gilligan 2 · 1⤊ 0⤋
I once deposited a charge account check in my savings , transfered the funds to checking and paid my bills for the month. Ta DA !
2007-02-14 15:33:53 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Oi i'm elderly, retired and that i already pay sufficient thank you, The pitiful iciness gas allowance isn't sufficient, neither is the state pension, advance the two incredibly of coming up others pay for it.
2016-09-29 03:29:19 · answer #9 · answered by ? 3 · 0⤊ 0⤋
It looks to me that after the 100th month,everybody just breaks even.
2007-02-14 15:45:10 · answer #10 · answered by doggybag300 6 · 0⤊ 0⤋