Ever think about how much it costs to borrow money for a few days.. like those payday loans that charge you 5% to get a 1 wk forward on your money. Its really sad. Imagine you need $1k 1wk early and they charge you $50. You may think wow cool 5% comis.. but alas, here's the real math behind it.
FV = Pe^(rt)
where FV = future amount ($1050). P = Principal ($1000). e is e (natural log), r= interest rate, t = time in years.
so to solve we have:
1050 = (1000)e^(r* 1/52)
or .. 1050/1000 = e^(r/52)
a little log magic gives us:
.. ln(1050/1000) = r/52
.. 52 * ln(1050/1000) = r
solve for r, you have: 2.53 or 253% APR!!! are you kidding me? Yeah baby thats how much interest you are really paying per annum.
Not much new in Tokyo today. I am pissed I just missed getting a haircut twice this week (shop had just closed). Frick. Little things like that are a god damn pisser. Otherwise work is cool, been busy. Met a hot sales rep from Gloomgerg today.
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