Complete $102.00 Loan (120% payback)

You do realize that 120% ROI is $224.40, not $122.40, right?

 

To be fair, he does say "payback" and not ROI.

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Let's not get so defensive buddy. There's no reason to get worked up, just because you think you're right (although you're sadly mistaken). I may have taken Pre-Algebra back in 7th grade, but I sure know a thing or two about finances and how investing works.

See, one thing you're not aware of, is how ROI actual works. It's a Return on Investment. When I give a percentage, it's not including the original amount. So, you want to pay back $122.40, you'd offer 20% ROI. That's the return on top of the initial investment ($102). $102 + $122.40 = $224.40.

See for yourself! https://www.easycalculation.com/mortgage/roi-calculator.php

As you can see in this screenshot, if I gave you $102 and you paid back 120%, it'd be $224.40. It'd be 20% if you paid back $122.40. You can claim to be some sort of math wizard, but finances and investing is where I excel

 

Dre, payback is different from ROI.

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No it's not. Not at all. I expect to be paid back the initial amount regardless, so the percentage given is extra (ROI, it's the same damn thing.)

 

Yeah it is, he's saying he'll "payback 120%". Which is $102 x 1.2 or whatever it is. ROI includes the initial value, payback doesn't.

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Payback = ROI. Read what I said above.

 

Payback does not = ROI, unless I'm being retarded.

He's saying that he'll pay you back 120% of what you give him. He's not saying he'll pay 220% back (which would be the case if he said the return on investment is 120%)

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ROI is return on invest, payback is how much he will pay you back