![]() 06/04/2014 at 06:30 • Filed to: None | ![]() | ![]() |
You see a pair of shoes that you really want. They are priced $97.00 (Tax included)
But you don't have any money so you borrow $50.00 from your mother and $50.00 from your dad = $100.00
You buy the shoes and you still have $3.00 left.
So you give your mom $1.00 and your dad $1.00 and keep $1.00 for yourself.
Now you owe your mom $49.00 and your dad $49.00
49+49= $98.00 Add the one you kept and you get $99.00
Where is the other $1.00?????
![]() 06/04/2014 at 06:43 |
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49.00+49.00 = $98.00
98.00 + 1.00 = $99.00
you're keeping $1.00, remove it from the equation and it's all good. You still owe them $49 each, you already payed them both a dollar back. Nothing wrong with this equation.
![]() 06/04/2014 at 06:48 |
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The last part is wrong, if you add the $1.00 (and by adding we assume that means you're giving your parents the other $1) you would in fact be subtracting the $1 from the total, giving you $97 total that you owe your parents.
![]() 06/04/2014 at 07:00 |
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Well..
In my opinion, the other 1 bucks is yours.
Simply because you owe your parent 98 bucks.
You owe them 100$, then pay them 2 bucks from the leftover, that leaves you with 98 bucks right?
The shoes cost 97 bucks, then the other 1 buck is yours, the one that you keep.
![]() 06/04/2014 at 08:55 |
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But if I leased the $100 from my parents, and then assuming a residual value for the shoes of $20 in 3 years, and only walking 10,000 steps per year, with standard steps overages of course, what would my monthly shoe payment be?
![]() 06/04/2014 at 09:25 |
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98 is your debt to parents, 97 is the value of the shoe you have, 1 is how much actual cash in your wallet. Question misleads by adding two numbers that had no issues of being added together in the first place, creating another arbitrary number.
Come to think of it, kind of like our budgeting system really.
![]() 06/04/2014 at 09:29 |
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You only truly borrowed 98 bucks. 97 was spent on shoes and 1 was kept. the equations should say" you borrowed 100 and paid 2 back = you paid 97 for the shoes and kept 1
Debt + equity = Assets (you have no equity)
(50-1)+(50-1) = 97+1
49+49=98
98=98
if you hadn't been paid the 2 bucks back it would have been 100=97+3
![]() 06/04/2014 at 09:36 |
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take the $97 bucks and divide it by 2 and that's how much you own each parent for just the shoes.
$97 / 2 = $48.50 + the $1 dollar you give them back = $49.50 each
$49.50 x 2 = $99.00 + the $1 you kept and you get $100.00
![]() 06/04/2014 at 09:38 |
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$2.22 assuming your parents aren't in it to make money and are charging no interest.
![]() 06/04/2014 at 09:40 |
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If you take extra steps, i assume they would charge you an overage, because the residual value would have reduced as well.
![]() 06/28/2014 at 05:24 |
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If you sign right now, I'll get you into those brand new shoes for only $6.73/mo + tax, tag, title, license, dock, destination and prep fees.