This project was moved on PROBLEM! Beware at the moment..
The Jetrobot Investment Plan.
We recently published a “First Thoughts” article about the Jetrobot online investment program. In it we summarized their single investment plan in the following way:
For the online investor, Jetrobot offers a very easy-to-understand investment plan. It pays 10% per day for 15 days and your deposit is returned to you as part of your earnings. The minimum investment is $10. That’s all there is to it.
Since we wrote that article, we found out that the plan only pays interest on BUSINESS days. You will find this out after registering for the program and looking at your account page. Obviously, a nicer procedure is “full disclosure” by completely describing an investment plan on the main website page.
Also, the Calculator on the website gives incorrect results. I am told that this will be fixed in the near future. I would suggest that it be fixed NOW.
Analysis of the Jetrobot Investment Plan.
The Jetrobot investment plan will break even in exactly 10 business days. You get this by dividing 100% by the daily rate of 10% that is paid to you each business day. Since there are roughly 22 business days in a 30 calendar day month, you can convert this result to calendar days by multiplying by a conversion factor of 30/22. The result will be 14 calendar days.
By the way, applying the same conversion factor, you can see that the 15 working day length of the investment plan is equivalent to around 20 calendar days (21 calendar days would probably be a better estimate). If you are thinking about these numbers, you have probably noted that five business days goes along with a seven calendar week. So, our calculations weren’t really necessary…
The total GROSS interest that you will earn for the plan will equal the daily return of 10% times the 15 business day length of the plan, or 150%. Since this includes your investment, you must subtract 100% to get your total NET interest, which will be 50%. Averaging this out over the number of CALENDAR days in the plan, we get what we refer to as the daily net interest (DNI) that the investment plan pays you. The result is 2.38%. We use the number of calendar days so that the DNI for this plan can be compared to DNIs for investment plans offered by other programs. You must compare “apples to apples.”
In Part 2 of this review we’ll discuss what we found out in this analysis of the Jetrobot investment plan and try to nail down the pros and con of the plan. Then, hopefully, we will be able to arrive at some conclusions that will be of use to the online investor. Please stand by. Part 2 will be in print in a few days.
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