Credit card offer...accountants, mathematicians please look
 

Capital One: $7/mo. for each 1K. I figured that's roughly 9% APR. Am I close?

8.4%

($7 x 12) / 1000

I came up the same as Big Ed. What's the fine print say?

Doan know, but it has to be compounded, eh? 7 x 12 is simple interest. When I say APR, I figure in the interest charged as added to the principle.

Now what's the answer? ;)

Why not just have your account name changed to keep track of all your old posts? :confused:

Minimum payment covers at least the accrued interest.

Yup.

If, for the sake of argument you want to know the compound interest vale, it is 8.73%. BUT, this could never get realized because of minimum payments. If you didn't make the payments, then you'd have penalties which would make the APR soar.

Bit of a hijack, but I'll answer: I left "Zeke" at 10,000 post even. I did change my account name once from Zeke914 to just Zeke and kept the post count going.

I figured once I got to 10,000m I'd retire the name. And what's different about keeping track? I can still log on as Zeke, I just don't post. Technically, I'm not violating the rules by having more than one account because I intend to keep Zeke retired.

I didn't have that much to say over the years anyway, nor do I now. :D But, some of the people that I correspond with on a regular basis were confused. So, I put the statement in.

I'm still Zeke on other boards. I don't think (hope) that I'll ever reach 10,000 again anywhere, including here as milt.

Back to the CC offer. so, really, 8.xx% is not that bad of a deal. I think my car is at 6% and that's a secured loan. My house is incredible, 4.375. I won't monkey with that, me thinks. ;)

But 8% money to buy a project with some potential for resale sounds like pretty good money to me. Of course, I could get a home based line of credit, but I haven't seen anything worth the effort lately. I let that window go by as I could have gotten some pretty good rates a couple of years ago. They float anyway, right? I'm thinking that the only mistake I made in recent times was not using home equity money for the car and locking in a rate at sub 5%. Not that much to worry about in the long run. I looked at the difference in the 4 year run and it was a couple hundred bucks for $20,000.

I'm not gonna get too excited by that. I could spend 200 at Pelican with a keystroke. :D