Heya folks, Elder Reterik here. I've been hearing a lot of questions about mathematical business relation type things, how much does it cost me and how much will I earn pretty much. I also heard a lot of questions on credit rods and how long would it take to pay it off, etc.
First I am going to direct you to the crafting potion questions to all you new crafters out there with my previous blog:
It will give you all you need to know on how much investment, how to create, and how to learn how you personally should market your products.
Let's talk about the worm cost to L$ earned ratios. Yes you need to know this a little bit before going into chat saying it's taking you forever to earn money by fishing. Please note that this is simply a mathematical guide to tell you how much you really are earning per day compared to how much you are spending.
You will always earn a profit, even if small, by using Small Worms and Completing Casts at a Buoy until Spooked!
I'm not lying when I say that either. Any new fisher can in fact begin earning a profit by using small worms, and I will even explain through the wonders of the dreaded mathematics! Those who hate math be warned, but be awed! *takes out pencil and paper*
First let's look at worm costs (current prices):
• Small Worms (green) - 0.26/per worm
• Tasty Worms (yellow) - 0.51/per worm
• Enchanted Worms (red) - 1.40/per worm
• Magic Worms (purple) - 19.7/per worm
For the sake of my previous comment, we will use Small Worms as our example. Let's state a few perameters:
0.26/per worm- Small Worm Cost
45 - Rod Casts /Per Buoy
Yep only two parameters! And now let's begin with a very simple and understandable equation on how much L$ to spend per buoy visited.
Worm Cost • Rod Casts = L$ to Spend To Equal Rod Cast limit
0.26 • 45 = L$ to spend
11.7 = L$ to Spend
We Must Round Up due to not being able to pay a decimal, L$12.
So now that we know we must spend L$12 to get enough worms for a single buoy lets see how many buoys we can visit with the full withdrawl from yesterday of L$300. Equation provided.
Withdrawl From yesterday / Cost Of Worms per Buoy = Buoys We can visit Today
300 / 12 = # of Buoy Visits Today
25 = # of Buoy Visits Today
Soooo Basically you can visit nearly the entire list of buoys on the Fish Hunt Land Listings:
Funny isn't it? You wouldn't imagine that L$300 could get you worms for so many buoys, right? Anyways! Let's get to your profit margins and such. We'll do a single buoy to start, and we'll use an estimate for how much L$ we earned there of L$18.
L$ Earned - Worm Cost = profit
18 - 12 = Profit
6 = Profit
So we see here that for the first buoy we visited we earned a net profit of L$6, not bad right? 24 more buoys to go! But since we're keeping the previous information of L$18 per buoy, we'll make another equation.
# of Buoys * (L$Earned - Worm Cost) = Total Day profit
25 * (18-12) = Total Day Profit
25 * (6) = Total Day Profit
150 = Total Day Profit
Note that this is 100% Profit not how much you earned, that looks like this:
# of Buoys * L$ Earned Per Buoy = Total Day Earnings
25 * 18 = Total Day Earnings
450 = Total Day Earnings
Alternately you can do a different equation to get profit:
Total Day Earnings - Worm Investment Cost = Profit
450 - 300 = Profit
150 = Profit
So after spending yesterdays net earnings, we gained 150 additional in cash, which sadly does stay in our bank, but if we don't reach the full L$300 withdrawl rate on the next day we will withdraw a bit from that additional funding, plus a few extra worms from random lotteries.
*Note: 45 Casts = About 45 Minutes RL time, and it is not wise to sit at a computer for that long if you are doing 25 buoys.
(45 Minutes * 25 Buoys)/60 Minutes in an hour = Actual Time For Event To Occur
(1125)/60 = Actual Time
18.75 = Actual Time
This means it would take you literally 18 hours and 45 minutes to complete this example, and you would NOT be guaranteed those same results consistently. Please take a break here and there and rest your eyes for your own health, then get back to it in the morning.
Alright that was a lot of math, and it's understandable if you got lost in it all, but it does prove you would gain a profit by using only small worms at x1 buoys.
Let's see if I can help with those of you looking on the credit aspect of rods.
First let's start with the fact that the Deluxe Rod is the most commonly request rod on credit, and this rod costs 2990 on MP:
Most Commonly the credit ratio of repayment is 50% of your withdrawl at the ATM, and a max withdrawl is L$300. Let's start with the math:
Max Withdrawl / 50% = Repayment
300 / 2 (50%) = Repayment
150 = Repayment
You might notice that one single withdrawl takes a piece of the cake off your credit bill! Now how many of the same repayment would you need to Pay Off Your Debt! Let's find out:
Rod Cost / Repayment = # of Payments Needed
2990 / 150 = # of Payments Needed
19.93_ = # of Payments Needed
Let's just round that to 20, because we hate decimals, don't we? So this would mean you'd need 20 Withdrawls to pay off your debt! And you can only get the L$300 max withdrawl every 24 hours, meaning it would literally only take you 20 days to pay off your debt! But of course we don't always get the full L$300 each day, so we can roughly extend that to suit your hunting habits within LGH products!
I hope you all had an interesting read, and for those of you who hate math, but really wanted to know all of this information, I salute you on your resilience on getting through the entire blog post, and not telling yourself, I can't even understand this math. I hope I helped y'all out, and stay tuned for when I decide to help out again! Until next time!