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Law Capping interest rates
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newfarer
#1381 Posted : Monday, October 03, 2016 5:55:38 AM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
Other than the time value of money is there much difference between borrowing 90000 then repaying 7500.00 per month ex interest and taking 7500 per month repaying per month. Si at the end of the year both of you will have taken 90000 and repaid 90000?
punda amecheka
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Swenani
#1382 Posted : Monday, October 03, 2016 7:51:01 AM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
newfarer wrote:
Other than the time value of money is there much difference between borrowing 90000 then repaying 7500.00 per month ex interest and taking 7500 per month repaying per month. Si at the end of the year both of you will have taken 90000 and repaid 90000?


Waaah Jeso of Nazereth!

If Obiero did it, Who Am I?
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FRM2011
#1383 Posted : Monday, October 03, 2016 7:58:04 AM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
newfarer wrote:
Other than the time value of money is there much difference between borrowing 90000 then repaying 7500.00 per month ex interest and taking 7500 per month repaying per month. Si at the end of the year both of you will have taken 90000 and repaid 90000?


There is a big difference my brother. The situation above is equivalent to a bank overdraft of kes. 7,500. It's availed to you throughout the year but at any one time, the maximum you can draw is only 7,500.

The overdraft accrues interest on a daily basis calculated from the balance in your account at the end of each day.

For comparison, if you took the overdraft on 1st jan and left your account balance at (-7,500) until 31st Dec, the total interest for the year would be 1,050.
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FRM2011
#1384 Posted : Monday, October 03, 2016 8:01:27 AM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
ION, Family bank has invited staff to apply for a voluntary early retirement program.

At least 4 other banks are in the process of downsizing. But we all knew this would happen so no surprises there.
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MaichBlack
#1385 Posted : Monday, October 03, 2016 8:04:42 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
Swenani wrote:
newfarer wrote:
Other than the time value of money is there much difference between borrowing 90000 then repaying 7500.00 per month ex interest and taking 7500 per month repaying per month. Si at the end of the year both of you will have taken 90000 and repaid 90000?


Waaah Jeso of Nazereth!


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

@Swenani - Hapa ndipo mtu husema "Moving on..."

@newfarer - Let me try one last time. Slowly read posts #1376 and #1378.

cc: @Kaigangio.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Ericsson
#1386 Posted : Monday, October 03, 2016 12:26:34 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,820
Location: NAIROBI
Low interest caps has stirred activity in the stock market.
Share prices edging higher and higher.
Seems insurance and pension schemes are shunning Govt bills and bonds in favour of equities.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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maka
#1387 Posted : Monday, October 03, 2016 12:46:25 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Ericsson wrote:
Low interest caps has stirred activity in the stock market.
Share prices edging higher and higher.
Seems insurance and pension schemes are shunning Govt bills and bonds in favour of equities.


There has been lots of activity in the bond market...The new 20 year has traded quite a bit today...
possunt quia posse videntur
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Ericsson
#1388 Posted : Monday, October 03, 2016 12:50:09 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,820
Location: NAIROBI
@maka
who were the majority of bidders
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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wukan
#1389 Posted : Monday, October 03, 2016 1:03:59 PM
Rank: Veteran

Joined: 11/13/2015
Posts: 1,658
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Ericsson
#1390 Posted : Monday, October 03, 2016 2:38:49 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,820
Location: NAIROBI
And banks reducing the number of staff

FAMILY BANK KENYA ASKS EMPLOYEES TO GO FOR EARLY RETIREMENT. STAFF GIVEN TWO WEKS TO SEND IN THEIR APPLICATIONS
https://twitter.com/keny...atus/782838294593859584
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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303 Pages«<137138139140141>»
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