The Student Room Group

Would you rather get £100 now, or £1000 in 366 days?

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Reply 20
Avatar for Kyx
Kyx
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26 - 1

:h:

exactly as expected :wink:
Original post by Kyx
26 - 1

:h:

exactly as expected :wink:


Surely it depends on how much is being offered? To many students, 1000 is a decent amount of money. However, if it was £100 being offered in 366 days and £10 now, I wonder how many people would wait a full year to get the 100 pound.
Reply 22
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Kyx
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Original post by AlifunArnab
Surely it depends on how much is being offered? To many students, 1000 is a decent amount of money. However, if it was £100 being offered in 366 days and £10 now, I wonder how many people would wait a full year to get the 100 pound.


Exactly. :h:

Classic experiment.
£100,000 now, or £1,000,000 in 10 years?
Reply 24
Avatar for Kyx
Kyx
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Original post by Martinnathalie9
£100,000 now, or £1,000,000 in 10 years?


100,000,000 now defo
Reply 25
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Kyx
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Original post by nverjvlev
£100 then I could reinvest and make it into more than £1000 in the 366 days


:h:
Reply 26
Avatar for dav55
dav55
1
Personally, i would take £1000 later. But if the person giving it to me was The Rangers Football Club then I would opt for the £100 now as the could fold again in one years time lolololol
Reply 27
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Kyx
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Original post by dav55
Personally, i would take £1000 later. But if the person giving it to me was The Rangers Football Club then I would opt for the £100 now as the could fold again in one years time lolololol


:toofunny:
1000/[1.00+0.10) = 909.9
Still over 9 x more than the 100 a year later
thats using a huge discount factor of 10% too it's more likely 2-5% the 1000 all the time =] (unless im literally on the brink of death by starvation or something).
Reply 29
Avatar for ZuluK
ZuluK
17
Original post by Ethereal World
Unless you're a delay discounting drug addicted high school drop out, then the latter is generally preferential.


Original post by Shadez
£100 right now please :smile:


Shadez, something you're not telling us?

😂😂 😂😂😂
What are the interest rates?
Reply 31
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Kyx
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Original post by Rich Rollington
What are the interest rates?


Same as they are now.
Original post by Kyx
Same as they are now.


£1000 then.
Reply 33
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Kyx
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Original post by Rich Rollington
£1000 then.


:wink:
Original post by Kyx
Classic question.

Interesting psychology.

Just wondering.


Deferred gratification.
Reply 35
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Kyx
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Original post by Absent Agent


10 points to Gryffindor!

:hugs: :h:
Apparently its not really an interesting question.

£100 really wouldn't do a lot for me at the moment, whereas even if I wasn't getting the grand for a year I could spend it but just borrow on 0% credit card or from savings.
£100 right now
A year is too long to wait.

I'll just buy the stuff I want and move on with life :h:
This is obviously gonna be in favour of the £1000.

It's more interesting to ask with marginal difference, like £9000 today or £10000 next year (same physical difference in the amounts but a much smaller proportion of the total).
but i already have £1000

smh

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