Prosper Progress Report - May 2008
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Five words, Keep It Simple and Smart
| Breakdown of Investment | |
| Original Investment | $650.00 |
| Interest Reinvestment | $71.37 |
| Breakdown of Loans | |
| Total Active Loans | 13 |
| Total of Loans Late | 0 |
| Total of Loans Defaulted | 0 |
| Total of Loans Paid Back In Full | 1 |
| Breakdown of Interest/Payment | |
| Average Interest Rate | 24.70% |
| Daily Interest Accrual | $0.49 |
| Total Monthly Payment (Including Interest) | $31.55 |
| Breakdown of Income | |
| Interest Earned | $13.60 |
| +/- Increase Over Previous Month | $1.77 |
| Interest Earned Year to Date | $48.62 |
Summary of Investment
While I am working on Building My Prosper Plan, it has been a productive month with all the payments done on time. One new loan was added, a borrower who was seeking a $1500 loan which only received 34 bids resulting in a bid-down interest of 32.58% for a HR credit grade. It was interesting to see that many of the lower cost loans, $3,000 or less have been only getting minimal bids while higher cost loans $10K or more have been getting 200 bids or more.
Comment by passivefamilyincome on 13 June 2008:
Mark - I find that very interesting that the lower loans are bid on less. I take a totally opposite approach and bid on the lower loans. I currently have 38 loans at an average rate of 16.07%, with 3 paid off in full. I posted on my site yesterday about 2 loans that I am having issues with right now - one a 2 month late loan and the other a <15 day late lonal. I am interested in following your status using Prosper.
passivefamilyincome’s last blog post..May 2008 - Family Budget Review