Posted December 15, 2017 (edited) I just want to point out something in your formula. Your formula: % of Money paid back on time * net worth - amount of money owed * number of weeks payments were made late. I assume paying back money on time is a good thing. By doing: "net worth*0.8" you're calculating a 20% decrease in score. In your case: "250,000*0.8=200,000". Solve for percentage of decrease: "200,000 / 250,000 = 0.8. Subtract the total percentage of 100% (1): "1 - 0.80 = 0.20 = 20% of the original value of 250,000". Credit scores are more reliable the higher they are. I assume you want paying back on time to be a good thing. In this case, if you do: "(1.80 * 250,000) - (30,000 * 2) = 450,000 - 60,000 = 390,000" I belive you have a better result. In this case (when multiplying like this): 1.80 is an increase of 80%, while 0.80 is a decrease of 20%. Also, can I suggest you divide the answer by 1000? That way you'll eliminate the "k" and have more of a "score" rather than amount of "currency". This would then be the formula: "((% of money paid back on time + 1) * net worth - amount of money owed * weeks of late payments) / 1,000 = ((0.80 + 1) * 250,000 - 30,000 * 2) / 1,000 = (450,000 - 60,000) / 1,000= (390,000) / 1,000 = 390". So then you have a credit score of 390 instead Edited December 16, 2017 by patrick1333 Share this post Link to post Share on other sites
Posted December 15, 2017 (edited) On 15.4.2017 at 12:01 PM, Sasper said: I've made a calculation to illustrate how much a 1000 dollars would make in just 1 year, with a interest rate of 2% every week. This mean that if I open an account today, and deposit $1000, I will in one year have a profit of $1800!!!! In two years it would look like this: This is a very very high interest, on a very frequent basis!!! Other banks pay out interest p.a., or maybe once every 6th month. How will you ensure that you have enough capital to payout all your stakeholders? As Einstein once should have said: “The most powerful force in the universe is compound interest” 2% compounding every week is really nice haha. Where I live, the key rate is currently at 0.5% Edited December 15, 2017 by patrick1333 Share this post Link to post Share on other sites
Posted January 10, 2018 On 15/12/2017 at 11:51 PM, patrick1333 said: 2% compounding every week is really nice haha. Where I live, the key rate is currently at 0.5% In Denmark I have 0,200 which is very high Share this post Link to post Share on other sites
