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Better sign up for a payment plan, you fat faggot

G

guest

Guest
Compounding interest is a beautiful thing. Did you know the state of California allows for 10% interest on unpaid legal fees?

OOPSIE DOODLES!

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BudDickman

Forum Clout
41,817
Actually, I looked into it, and the 10% interest rate is not compounding. So Quasi is earning a flat rate of $2374 every year off of Pat. So it is kind of like a bond as opposed to a loan.

Quasi does have the option to renew the judgment every 5 years, which causes whatever remains from the original principle plus unpaid interest to become the new principal. Effectively, the interest would be compounding every 5 years if Quasi goes through that process every 5 years. This is what the returns would look like in that case:

2021$23,739
2022$26,113
2023$28,487
2024$30,861
2025$33,235
2026$36,558
2027$39,882
2028$43,205
2029$46,528
2030$49,852
2031$54,837
2032$59,822
2033$64,807
2034$69,793
2035$74,778
2036$82,256
2037$89,733
2038$97,211
2039$104,689
2040$112,167

Not bad.
 
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