SBW
June 24 2005 5:43 PM EDT
On May 19th, Max was loaned 6,000,000 for an elb auction. He was given 6 weeks to pay back the loan at 8% interest compounded weekly starting with 8% straight away. The 5th week ended yesterday and he has still yet to pay anything. One more week remains.
Current balance: 9,521,246
SBW
June 28 2005 4:42 PM EDT
If Max does not pay the remaining balance by this thursday, he has broken the terms of the agreement and will therefore be charged 25% interest compounded weekly.
Current balance: 10,282,945
SBW
June 30 2005 6:48 PM EDT
Max now owes 25% compounded weekly starting today
Remaining Balance: 12,853,681
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