David Landon Cole | Charging 4000% interest @DavidLandonCole | Uploaded October 2012 | Updated October 2024, 9 hours ago.
The figures are based on 4214% APR compounded annually. In each case, what I've chosen to represent the debt is less than the figure I calculated.
SkepticTV have an interesting piece on this: skeptictv.net/2011/08/06/deception-by-numbers
For TommySez: telegraph.co.uk/finance/personalfinance/borrowing/loans/9606570/Wonga-faces-questions-over-borrowing-by-children.html and guardian.co.uk/money/2012/may/22/oft-criticises-wonga-debt-collection
The figures are based on 4214% APR compounded annually. In each case, what I've chosen to represent the debt is less than the figure I calculated.
SkepticTV have an interesting piece on this: skeptictv.net/2011/08/06/deception-by-numbers
For TommySez: telegraph.co.uk/finance/personalfinance/borrowing/loans/9606570/Wonga-faces-questions-over-borrowing-by-children.html and guardian.co.uk/money/2012/may/22/oft-criticises-wonga-debt-collection