Re:Are Buy Now Pay Laters the Next Bubble?
by tobyjsullivan on Sunday July 03, 2022 @02:35PM
(#31969908)
Where did the parent suggest there was compounding? I read it as 2% of the purchase price, on a 3-month term. 2% * 4 = 8% annually, without compounding.
[ Parent
| on HN ]
Yes. But let’s break this into first principles.
You get $200 rewards on a $10k purchase.
In no world do you get $800 on $10k. You only get $800 on $40k because the 2% isn’t a rate in principle so 8% literally never happens.