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how do you grow up and completely not understand simple interest? That's like 5th grade math lol

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What do you mean? 14% is a great deal compared to the 29% on my credit card

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29% CC APR is steal!

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I want to make fun of you for saying "simple interest" because that's a thing and it's nowhere near as bad as compound interest which is what mrs iphone is paying

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I figured that loans <$2000 would be simple-interest lol. Don't most payday-loan type shops operate on simple interest?

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Payday shops do that for their own benefit - the interest is baked in as if you made no payments until the very last day, even if you pay it off in 6 hours. People accept it because they're desperate.

On the other hand, banks only accept the long terms on normal loans because the compounding makes it worthwhile.

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