From: Alec McKenzie 
Newsgroups: uk.finance
Subject: Re: Leaflet through the letterbox - 739.9% APR
Date: Wed, 26 Apr 2006 09:31:21 +0100

"Tim"  
wrote:

> "Andrew MacPherson" wrote
> > ... For example if someone needs a loan to keep
> > them ticking over until the next pay day, borrowing
> > £100 and paying back, say, £125 a fortnight later
> > (%25 in 2 weeks, (very) roughly %650 in a year)...
> 
> That's not just rough, it's waaaaay out!
> More like 33,650% !!

Far from being way out, it's pretty close: 25% for 14 days 
becomes 651.8% for 365 days.

-- 
Alec McKenzie
usenet@.me.uk