Birdwatch Archive

Birdwatch Note Rating

2024-08-05 19:01:31 UTC - HELPFUL

Rated by Participant: 6BD80A4A7DA5EB58F009ACC1659A92C61FAF93E36100B9E6F436D47FBC1D8ADE
Participant Details

Original Note:

At an 8.6% interest rate, $500 monthly payments can't outpace the accruing interest on $70,000. Therefore, less than an 8.6% interest rate is required to generate the outcome described in the original post, not 93%. (0.086 x $70,000)/12 = $501.67 in the first month https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php

All Note Details

Original Tweet

All Information

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  • version - 2
  • agree - 0
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  • helpfulnessLevel - HELPFUL
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  • ratingsId - 18204492963758492626BD80A4A7DA5EB58F009ACC1659A92C61FAF93E36100B9E6F436D47FBC1D8ADE