You typically earn interest for granting someone the privilege of the use of your money.
Do products in warehouse typically earn interest, or do they depreciate?
Your username checks out, lol. At 5% APR, 30 days’ worth of interest on this $390 purchase is ~$1.63.
And if we consider that Nike is acting as a bookmaker in this case, the house edge for a bookmaker is around that amount anyway. Nike is likely to bake this edge into their margin anyway, but I don’t think it’s likely that you’d get a bonus of $1.63 if you win this bet, in this hypothetical.
What I’m trying to say is that this scheme gives the retailer an interest free loan on every purchase, courtesy of the customer, so fuck them for that.
Don’t credit cards usually give 21 days of interest free grace period? So this is over ~9 days worth of interest? Fuck them for that? Not fuck them for exploiting gambling addiction, but for not giving the consumer their two quarters worth of interest?
They had better pay me interest while they’re holding my money, then.
Do they get interest for the product you held during the return period?
You typically earn interest for granting someone the privilege of the use of your money.
Do products in warehouse typically earn interest, or do they depreciate?
Your username checks out, lol. At 5% APR, 30 days’ worth of interest on this $390 purchase is ~$1.63.
And if we consider that Nike is acting as a bookmaker in this case, the house edge for a bookmaker is around that amount anyway. Nike is likely to bake this edge into their margin anyway, but I don’t think it’s likely that you’d get a bonus of $1.63 if you win this bet, in this hypothetical.
What I’m trying to say is that this scheme gives the retailer an interest free loan on every purchase, courtesy of the customer, so fuck them for that.
Don’t credit cards usually give 21 days of interest free grace period? So this is over ~9 days worth of interest? Fuck them for that? Not fuck them for exploiting gambling addiction, but for not giving the consumer their two quarters worth of interest?
Yes, they get a slightly used product in return