Bank of Blonzo
Bank of Blonzo Offers Revolutionary CD for π Day!
Several banks across the world have announced negative interest rates. Not to be outdone, the Bank of Blonzo (BoB), recently announced a new kind of certificate of deposit (CD) with an imaginary rate. Terms are:
Opening deposit must be $1000 USD. Interest accrues at a rate of 1i% per day, where i=√ -1. Interest is compounded per second. All interest paid when CD matures, exactly 100π days after opening deposit. Redemption value will be rounded to the nearest 1/10th of a penny. Not renewable. Not FDIC insured.
100π days is about 10⅓ months, and the 1i% rate is per day. This sounds like the deal of a lifetime! Indeed the BoB has been running ads with the line:
Worried about your money? With Bank of Blonzo you'll have nothing to worry about!
Should you invest? The financial press has gone wild since the announcement: