{"id":10331,"date":"2020-03-15T05:47:06","date_gmt":"2020-03-15T05:47:06","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=10331"},"modified":"2020-03-23T10:14:43","modified_gmt":"2020-03-23T10:14:43","slug":"fr-wallet-review-part-1","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=10331","title":{"rendered":"FR Wallet – Review Part 1"},"content":{"rendered":"

This project was moved on PROBLEM! Beware at the moment..<\/strong><\/p>\n\n\n

The FR Wallet Investment Plan.<\/strong><\/p>\n\n\n\n

In our recent \u201cFirst Thoughts\u201d article about FR Wallet<\/a>, we gave a complete description of the program\u2019s investment plan.  To refresh your memory, here it is\u2026<\/p>\n\n\n\n

For the investor, this Bot offers 2% interest on weekdays and 1% on weekends.  This is a \u201cperpetual\u201d investment plan and your deposit will continue to earn interest until you withdraw it.  Apparently, you can request part or all of your account balance at any time.  The minimum investment is only $10 and there is no maximum.<\/p><\/blockquote>\n\n\n\n

Analysis of the FR wallet Investment Plan.<\/strong><\/p>\n\n\n\n

Since\nthe investment plan offers different rates of return on weekdays and weekends,\nwe\u2019ll use an average rate in our analysis of the plan.  The rate for five days per week is 2% and the\nrate for 2 days is 1%.  So, the total\nweekly return is 12%.  Dividing this by\nseven, you get an average daily return of 1.71%.  <\/p>\n\n\n\n

If you divide 100% by this, you get that the FR Wallet<\/a> investment plan will take roughly 59 days to break even.  Let\u2019s call it two months.<\/p>\n\n\n\n

When\nanalyzing an investment plan, we usually determine the average daily net\ninterest that the plan pays.  This is\nequal to the total net interest that you receive from the plan divided by the\nnumber of days in the plan.  Well, for a \u201cperpetual\u201d\ninvestment plan, you really have no idea how long the plan will last; it will\nsimply last as long as the program survives. \nSo, the best we can do is assume different survival times for the\nprogram and determine the DNI for each of these scenarios.  <\/p>\n\n\n\n

First of all, let\u2019s assume that the program lasts long enough for you to break even and to start making a profit — two months or so.  With that thought in mind, we\u2019ll assume program lifetimes of 90, 120, 150, 180, 360, and 720 days.  As you will see, you won\u2019t be making much of a profit until 90 days or so.  That\u2019s the reason we\u2019re starting with this amount.<\/p>\n\n\n\n

OK, using the average return of 1.71% and multiplying it by our first assumed lifetime for the program of 90 days, you get a total GROSS interest of 153.9%.  Subtracting 100% from this because it includes your investment, you get a total NET interest of 53.9%.  Finally, averaging this out over the assumed 90-day lifetime of the program by dividing by 90, you get an average daily net interest (DNI) of 0.60%.  Repeating this arithmetic for the other assumed lifetimes, you get the following results:<\/p>\n\n\n\n