Why would anyone ever pay back a loan if it had zero additional interest for extending the term?
I have excellent answers to that. Well first off I would, because I pay loans in order from most benevolent to least benevolent. Second I figure out the mathematical theory that generalizes interest, and includes all types of interest as special cases, and compound interest is the special case number infinity, the most morally wrong case.
I have excellent answers to that. Well first off I would, because I pay loans in order from most benevolent to least benevolent. Second I figure out the mathematical theory that generalizes interest, and includes all types of interest as special cases, and compound interest is the special case number infinity, the most morally wrong case.