Gmomma
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What I would do is, take her out for a nice lunch, and give her the $100.00 That way you both can enjoy the bonus, and catch up as well |
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Insurance Biz CT
 |
I am glad your questions wasn't, "Do I still owe her the money?"
I think about $135 - which would be about 5%. |
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nickhawkins21
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Well first of all I would decide on an appropriate interest rate, for example if you two never agreed on an interest rate, I would think 10%. After doing some calculations, I find at $100, at 7 years, at 10% interest you should owe her about $200. However, the interest rate is totally up to you. But I would at least pay her some interest since it has been so long. |
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Shari
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I would never want interest from a friend. Even after so many years. That's just me though. |
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Boriana B
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well basically if you would still want her to be your friend, or just be honest (which you don't have to since there has not been a contract signed with the written interest rate).
I guess you should check out the inflation % or the yearly bank interest rate in the country you live since it depends. But ususally its around 3% so you should just pay her back the 100usd plus 21%.
Cheers/ |
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ntwrkadmngrl
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Friends don't loan friends money thinking they will get intrest or calculate inflation....just send her a check for a hundred in a thank you card and hopefully you can still have a friend to call! |
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Jen G
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I liked the idea of taking her out to lunch and paying her back the $100. Apologize profusely for not paying her back sooner. |
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curiousgeorgette
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First - that's what friends are for - NOT to add interest or rip you off! So on that note $100 is suffice unless you're not really that good of friends. However 'small claims court' will tell you the same thing - $100 PERIOD! If you feel a need to pay more then do so - but I wouldn't go all out. |
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ms attitude
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only the amout she lent you or the amount you agreed to pay back. |
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Scott
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I would give that person the $ 100 then ask what amount of interest they would like. If this is a good friend they may be most suprised that they got the $ 100 and may even refuse that. However I would surely think if this is a real friend that they would only take the $ 100 and call it even. But that is me. |
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Chi_Indy
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Give her $100. If you don't want to give it to her...I will take it!!! |
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cnuxoll
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I agree with the guy above me - pay it back with interest. 5% is pretty decent. |
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Suzieq
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has she asked for the money back? If not then if you think you should give it back, then give her just the $100. If she has forgotten about it, it will be a nice suprise to receive. She might even turn around and say dont worry about it. I definately wouldnt worry about interest. |
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Chetan K
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A fair way to do it is to look up the average fed funds rate (see link below) over the last 7 years, and calculate what you would owe on a compounded basis. Take the average fed fund rate per year from 2000 to 2006. Then grow the $100 on a compounded basis from beginning of 2000 to 2006.
According to my calculation, you would owe your friend $124.18.
Basically the rationale is that if she had a $100 back in 2000, she would have put it in her savings account, which would have yielded her those kind of interest rates. |
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Chris
 |
$117.07 according to the U.S. Department of Labor inflation calculator. This is, of course, assuming 0% interest. |
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