[quote]7thSonofa7thSon wrote:
[quote]PimpBot5000 wrote:
J Nasty…you are Rambo, and your deceitful, lavishly-spending wife is Brian Dennehy.
Run to the hills. Run for your life. [/quote]
I can’t help but notice that you quoted Iron Maiden in this post. Very nice.[/quote]
needs a video
[quote]countingbeans wrote:
Thanks to those that posted the NPH video, I’m sure I butchered the explanation.[/quote]
It’s nice to know you have good taste in TV shows, bean-counter.
[quote]scj119 wrote:
Dude, hindsight’s 20/20 and all but… you didn’t notice $10k of extra stuff at your reception?
Like someone above said…IMO it’s the lying that hurts more than the finances, or at least it would for me. If she wants to take out money on her own that SHE is planning on paying back, and doesn’t tell you, well that sucks but it’s not a deal breaker.
But if she takes money ON HER OWN then says “we own 10 grand” instead of “I own 10 grand”, that’s a pretty big matzoh ball hangin out there.[/quote]
But they’re married now. “I owe 10 grand” and “we owe 10 grand” are effectively the same statement.
[quote]Rockscar wrote:
[quote]krazykoukides wrote:
Just deal with it.
She obviously really wanted to get married:)[/quote]
Says the blind man who has his balls eventually in a jar in your very own man purse purchased by the wifey!
[/quote]
At least it’s in my favorite color…
This is exactly why getting married is generally a bad idea, one of the many reasons.
[quote]RSGZ wrote:
This is exactly why getting married is generally a bad idea, one of the many reasons.[/quote]
so you and I are just a fling? Wow, I wasted 19 years on you. Truly devasted…I passed on marrying a doctor cowboy spaceman racecar driver pornstar lawyer.
[quote]orion wrote:
[quote]Fat Bastard. wrote:
[quote]Jason van Wyk wrote:
$500 a month for 2 years = $12,000 = 20% interest rate. [/quote]
I am lazy, but not that lazy either 
I almost fell for that but knew it did not sound right.
It will take a few minutes to solve it, not that straight.
/Hijack.[/quote]
It is around 9,5% annually.
[/quote]
Its actually around double that.
[quote]Professor X wrote:
I think there are actually less women ABOVE the “Mendoza Diagonal” than ever before in the history of mankind.
Doomed.
We are all doomed, I tell you.[/quote]
I’ve always referred to it as “The Mendoza Line”
[quote]OBoile wrote:
[quote]orion wrote:
[quote]Fat Bastard. wrote:
[quote]Jason van Wyk wrote:
$500 a month for 2 years = $12,000 = 20% interest rate. [/quote]
I am lazy, but not that lazy either I almost fell for that but knew it did not sound right.
It will take a few minutes to solve it, not that straight.
/Hijack.[/quote]
It is around 9,5% annually.
[/quote]
Its actually around double that.[/quote]
10 X 1,095^2=12
Thank you very much.
[quote]orion wrote:
[quote]OBoile wrote:
[quote]orion wrote:
[quote]Fat Bastard. wrote:
[quote]Jason van Wyk wrote:
$500 a month for 2 years = $12,000 = 20% interest rate. [/quote]
I am lazy, but not that lazy either I almost fell for that but knew it did not sound right.
It will take a few minutes to solve it, not that straight.
/Hijack.[/quote]
It is around 9,5% annually.
[/quote]
Its actually around double that.[/quote]
10 X 1,095^2=12
Thank you very much.
[/quote]
And that is wrong. You’re assuming he is making a $12,000 lump sum payment at the end. Instead, he’s paying $500 per month so the $2000 of interest is based on an outstanding balance that is steadily declining and after a few months is much less than $10,000. A quick check in Excel puts the rate at ~19.75%.
[quote]Ct. Rockula wrote:
[quote]RSGZ wrote:
This is exactly why getting married is generally a bad idea, one of the many reasons.[/quote]
so you and I are just a fling? Wow, I wasted 19 years on you. Truly devasted…I passed on marrying a doctor cowboy spaceman racecar driver pornstar lawyer.[/quote]
LOL.
[quote]OBoile wrote:
[quote]orion wrote:
[quote]OBoile wrote:
[quote]orion wrote:
[quote]Fat Bastard. wrote:
[quote]Jason van Wyk wrote:
$500 a month for 2 years = $12,000 = 20% interest rate. [/quote]
I am lazy, but not that lazy either I almost fell for that but knew it did not sound right.
It will take a few minutes to solve it, not that straight.
/Hijack.[/quote]
It is around 9,5% annually.
[/quote]
Its actually around double that.[/quote]
10 X 1,095^2=12
Thank you very much.
[/quote]
And that is wrong. You’re assuming he is making a $12,000 lump sum payment at the end. Instead, he’s paying $500 per month so the $2000 of interest is based on an outstanding balance that is steadily declining and after a few months is much less than $10,000. A quick check in Excel puts the rate at ~19.75%.[/quote]
That is just silly.
I arrived at that by the simple assumption that 10 x X^2=12.
Therefore x = SQR of 12/10 which is around 9,5%
i like to lift heavy things.
[quote]orion wrote:
[quote]OBoile wrote:
[quote]orion wrote:
[quote]OBoile wrote:
[quote]orion wrote:
[quote]Fat Bastard. wrote:
[quote]Jason van Wyk wrote:
$500 a month for 2 years = $12,000 = 20% interest rate. [/quote]
I am lazy, but not that lazy either I almost fell for that but knew it did not sound right.
It will take a few minutes to solve it, not that straight.
/Hijack.[/quote]
It is around 9,5% annually.
[/quote]
Its actually around double that.[/quote]
10 X 1,095^2=12
Thank you very much.
[/quote]
And that is wrong. You’re assuming he is making a $12,000 lump sum payment at the end. Instead, he’s paying $500 per month so the $2000 of interest is based on an outstanding balance that is steadily declining and after a few months is much less than $10,000. A quick check in Excel puts the rate at ~19.75%.[/quote]
That is just silly.
I arrived at that by the simple assumption that 10 x X^2=12.
Therefore x = SQR of 12/10 which is around 9,5%[/quote]
And once again: your assumption is wrong. You cannot use $10,000 x X^2 = 12,000 because after the first $500 payment, there is less than $10,000 of principal earning interest. After the next $500 payment, there is less still and so on.
The formula you are using works for a straight loan with a lump sum payment at the end. It doesn’t work for calculating the rate on an annuity or mortgate which is how this loan is structured.
There is a BIG difference between:
Orion, think of it like this-
$5000.00 the first year + $1000.00 interest= 20% interest
Same with the second year.
Like I said, usurious rates.
Lol, Jimmy Five Fingers from the corner Deli has similar rates…
The total including interest is going to be about $10,000. Its around $8300 figured at 9.5%. Monthly payment is around $420, but the exchange rate changes daily and there is like a $15 charge for Western Union.
We have had conversations. I am not divorcing her or anything; that was never really considered. She is responsible for paying the bill every month. She works hard and makes enough but it still is going to mess up our budgets and delay our future plans until its paid off.
The money worries me alot but the biggest concern is the trust and its gonna take some time to earn it back.
And yes I do still have my balls.
Let’s analyze month by month what would happen to a $10,000 debt paid off $500 per month with an interest rate of 1.5% per month, which if compounded monthly is 19.56% per year (1.015^12=1.1956). For the sake of simplicity we will assume that interest only compounds monthly rather than daily or continuously. I am also going to assume a special clause in the contract such that principal and interest is rounded to the nearest dollar for each month. 
Month 1: $10,000 owed generates $150 interest.
$500 payment reduces principal by $350.
Month 2: $9650 owed generates $145 interest.
$500 payment reduces principal by $355.
Month 3: $9295 owed generates $139 interest.
$500 payment reduces principal by $361.
Month 4: $8934 owed generates $134 interest.
$500 payment reduces principal by $366.
Month 5: $8568 owed generates $129 interest.
$500 payment reduces principal by $371.
Month 6: $8197 owed generates $123 interest.
$500 payment reduces principal by $377.
Month 7: $7820 owed generates $117 interest.
$500 payment reduces principal by $383.
Month 8: $7437 owed generates $112 interest.
$500 payment reduces principal by $388.
Month 9: $7049 owed generates $106 interest.
$500 payment reduces principal by $394.
Month 10: $6655 owed generates $100 interest.
$500 payment reduces principal by $400.
Month 11: $6255 owed generates $94 interest.
$500 payment reduces principal by $406.
Month 12: $5849 owed generates $88 interest.
$500 payment reduces principal by $412.
Month 13: $5437 owed generates $82 interest.
$500 payment reduces principal by $418.
Month 14: $5019 owed generates $75 interest.
$500 payment reduces principal by $425.
Month 15: $4594 owed generates $69 interest.
$500 payment reduces principal by $431.
Month 16: $4163 owed generates $62 interest.
$500 payment reduces principal by $438.
Month 17: $3725 owed generates $56 interest.
$500 payment reduces principal by $444.
Month 18: $3281 owed generates $49 interest.
$500 payment reduces principal by $451.
Month 19: $2830 owed generates $42 interest.
$500 payment reduces principal by $458.
Month 20: $2372 owed generates $36 interest.
$500 payment reduces principal by $464.
Month 21: $1908 owed generates $29 interest.
$500 payment reduces principal by $471.
Month 22: $1437 owed generates $22 interest.
$500 payment reduces principal by $478.
Month 23: $959 owed generates $14 interest.
$500 payment reduces principal by $486.
Month 24: $473 owed generates $7 interest.
$480 payment eliminates the debt.
So it appears to me that a rate of 19.56% per year compounded monthly (with a special clause that monthly interest is always rounded to the nearest dollar) would be just a tiny bit too high to make the payments come out eactly even. But the standard compounding might be daily or continuously rather than monthly, and also my arbitrary rounding to the nearest dollar for each month’s interest might have thrown things off a little one way or the other. So it appers that 19.75% could be about right.
9.5% is way off the mark. Please study the numbers above closely until you understand that.
Thanks.
EDIT:
I mean – 9.5% is way off the mark for a $10,000 loan with 24 payments of $500.
EDIT 2:
I think 19.56% might technically be the “effective APR” for 1.5% monthly interest. I think the nominal APR might be 18% assuming monthly compounding, but less than 18% assuming more frequent compounding. Still way more than 9.5%.
This thread has been polluted with the gheyity of math and other such numeral-learnin’
The fact remains that we have a Brazilian wife as the topic of discussion, and yet so far these 4 pages are completely devoid of pics.
[quote]J Nasty wrote:
The total including interest is going to be about $10,000. Its around $8300 figured at 9.5%. Monthly payment is around $420, but the exchange rate changes daily and there is like a $15 charge for Western Union.
We have had conversations. I am not divorcing her or anything; that was never really considered. She is responsible for paying the bill every month. She works hard and makes enough but it still is going to mess up our budgets and delay our future plans until its paid off.
The money worries me alot but the biggest concern is the trust and its gonna take some time to earn it back.
And yes I do still have my balls.[/quote]
LOL, this thread isn’t about you anymore, it’s about interest rates ( :
Glad you’re not getting divorced tho