Monday, July 31, 2006

Compound This

I got a credit card bill in the mail today. Not technically a bill. I paid it off recently and they actually owe me for once. That's right, the credit card company owes me sixteen cents. Sixteen cents that could be earning me a return. Now I don't mind if they can't pay it back all at once, that's fine, we can work something out - but I've just realized they are overdue...that incurs an...oh let's see...$60 late payment fee and, why not, a $25 processing fee.
So they actually owe me $85.16...that's more like it. Now I won't tell them that until they make another payment, which won't be enough and bingo, another $85 plus interest on the first $85.16 PLUS interest on the original $0.16. Now we just compound the hell out of it, add the zero's and...there we have it. If I play it right they'll owe me $62,951.33 by October.

6 comments:

Anonymous said...

good luck with that 1
let me know how it works out for you

Ghetto Photo Girl said...

Your Skooky Australian Logic is so close to my Girl Logic that I fear we are the same person.

exile said...

fuck yeah, i say charge them

and if you can charge them with fees, charge them with baboons

SkookumJoe said...

it was actually $62,951.33 with the 0.33 repeating...but I'll let them off.

exile said...

no truncation with our representation!

Anonymous said...

I like your math, would you do my income tax return?!