The Family and Friends Plan offered by Positiviti Lending is a special investment opportunity available on their micro lending platform. Positiviti Lending is a company that raises capital in North America and operates micro loan services in Kenya. The Family and Friends Plan allows a group of family members or friends to pool their money together to reach a total investment amount of $50,000.
To participate in the plan, one member of the group needs to enroll in the program and act as the facilitator. The facilitator will be responsible for initiating the enrollment process and identifying the name of the group. Once the facilitator completes the enrollment, the other four members of the group will be invited to enroll in the program as well.
After all the deposits from the group members are confirmed, the group will start earning a monthly interest rate of 3% on their investment. This translates to an annual interest gain of 36%. The interest earned by the group will be credited to their investment accounts monthly.
The details and progress of the Family and Friends Plan will be posted on the Positiviti Lending website. This ensures transparency and allows participants to track their earnings and investment growth over time.
It's important to note that the information provided is specific to Positiviti Lending's Family and Friends Plan and may be subject to change. For the most accurate and up-to-date information, it is advisable to visit Positiviti Lending's official website or contact their customer support directly.
Let's calculate the total amount invested by The Cowboy Group and the interest earned for the year based on the given example:
Total amount invested by the group:
Ronald Jones: $10.0K Tony Jones: $10.0K Diana Jones: $10.0K Laureen Jones: $10.0K Adam Jones: $10.0K
Total investment by the group:
$10.0K + $10.0K + $10.0K + $10.0K + $10.0K = $50.0K
Now, let's calculate the interest earned for the year: Total interest earned for the year by the group: $50.0K x 36% = $18.0K
Individual interest earned for the year: Each member of The Cowboy Group invested an equal amount of $10.0K, so they will earn the same interest of $3.6K
Therefore, the total amount invested by The Cowboy Group is $50.0K, and the interest earned for the year is $18.0K, with each member receiving $3.6K in interest.