Hello, I would like to know how the daily interest of a bank loan is calculated, it says 20% but 20% of what exactly? I can’t find it, maybe I’m missing something.
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With regard to bank loans, it is best if you can make loans in equal proportion to your own assets. If you go bankrupt that day, your goods or assets will be forcibly deducted by the bank
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Bank loans of 1000 so far are more reasonable than taking a higher amount. Due to the tutorials 15,000 and 20 a day of interest, it’s better to just get 1000 (15 times) cause it’s lower than the I tail 20 you pay for the 15000.
To make sense of this if you get a 15000 loan you pay 20 interest a day… (example)
Even if you owe 100 left on that loan you still pay 20 interest. This doesn’t follow real life ways of interest or a loan.
So I just get a lot of loans for a low amount to pay less interest. Haha
Devs might change this current system or not.
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Closest I can figure is like this:
20% of 100,000 = 20,000
20,000 / 365 = 54.79
Thats at close as I can get to the actual payment.
If you do it this way:
20,000 / 59 = 338.98
Any chance you have a 340 day year selected?