💰 Welcome to the Official Bank of Levi Finkelstein™ 💰
To take out a loan write a comment containing:
Confirmation that you've read and agreed to the terms (v1) of the loan.
The amount of Ṁ you want.
The exact date and time you'll pay it back by. Must follow this format: "DD/MM/YY, HH:MM, UTC±N". Example: "23/02/24, 16:34, UTC+2"
(optional) Expiration date and time for your loan request. If your loan request is not granted before this time period it will expire and no longer be eligible for a loan. This is in case your loan is only wanted within a certain time period, and I'm not available to grant it before that. Format should be the same as due date.
If the bank decides you're eligible for the requested loan, it will be awarded as a bounty on the respective comment.
To pay back a loan send the due mana to @levifinkelstein with a note specifying which loan you're paying back. You can do so HERE.
Example of loan request:
"I've read and accepted the terms of the loan. I'm requesting a loan of 10023Ṁ that I will pay back by 02/01/28, 10:02, UTC+1."
With expiration date:
"I've read and accepted the terms of the loan. I'm requesting a loan of 10023Ṁ that I will pay back by 02/01/28, 10:02, UTC+1. This request expires 02/01/24, 15:02, UTC+1"
Terms of loan (v1):
You have to pay back a small amount of interest on top of your loaned amount. If you loaned ṀX mana for M minutes, the TOTAL amount you need to return is f(X, M) = X * 1.00001^M (rounded up to nearest integer). The amount of minutes M is defined to be the number of minutes between the time you were awarded the loan and the time your loan is due rounded up to the nearest integer (i.e. doesn't matter if you pay it back early.)
In case you don't repay what is due by the due date/time your due date/time will be extended by exactly 24 hours and the due amount will be multiplied by 1.08 each time. If this happens too much you're responsible for compensating me somehow at potentially great cost to yourself.
If you make a loan request you are responsible in the case that you are awarded a loan.
I might update how loans work in the future, in that case you only have to abide by the terms in state they were in when you made the request. You never have to follow terms you didn't agree to.
If you're @jim then you don't have to pay back the loan.
If you have any questions you can contact me on discord: https://discord.gg/fbK2K7mT7e
Interest calculation examples:
f(1000, 1 day) = 1000*1.00001^(24*60) = 1014.5041064170471 => due amount is 1015.
f(1000, 1 week) = 1000*1.00001^(7*24*60) = 1106.05485111179 => due amount is 1107.
Related questions
If you award a Ṁ1,600 bounty to this comment I will do a photo shoot of @Orangey dressed as a strawberry and send all of the photos to you, with exclusive rights over their use. No such photos currently exist, it's possible they could fetch a handsome price at auction.
(ignore)
