2007-09-01 17:10:31 · 9 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
900% Interest Rate
You have taken $ 5.00 and going to return with Interest $ 50
50-5 = 45 /5 *100 = 900%
Capital Amount $ 5.00
Int. Rate @ 900% $ 45.00
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Total $ 50.00
2007-09-01 17:18:09 · answer #1 · answered by Bluebird 6 · 1⤊ 0⤋
1000%, using however long it took to pay it back as the length of time used in the interest rate (such as 1000% per year)
2007-09-01 17:16:07 · answer #2 · answered by Steve 7 · 0⤊ 0⤋
Depends on how long before you paid them back. If it was 50 years, not much - if it was a month, huge.
2007-09-01 17:31:29 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
dang check cashing places!!! They're the devil!!! $50.00 for a Slurpee and a Kit Kat!! It's "interestingly" over priced I'd say!!
2007-09-01 17:16:47 · answer #4 · answered by Robert W 1 · 0⤊ 0⤋
It depends on how long you had the money and if it was paid in installments or all at once.
2007-09-01 17:13:30 · answer #5 · answered by tabulator32 6 · 0⤊ 0⤋
It doesn't matter how long you had the loan out, it's still around a 900% return rate.
Geeze...can I loan you some money????!!!! LOL
2007-09-01 20:12:35 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You forgot to say how long your going to owe them
2007-09-01 17:18:23 · answer #7 · answered by KrystalMarie 2 · 0⤊ 0⤋
how many day r between the day you borrowed and return?
2007-09-01 17:13:12 · answer #8 · answered by Michelle 3 · 0⤊ 0⤋
depends on how long it took you to pay it back
2007-09-01 17:13:53 · answer #9 · answered by IT'S ME AGAIN 6 · 0⤊ 0⤋