  In his book with Alan Jolis, Vers un monde sans pauvret\'e (1997) Yunus gives
the example of a microcredit loan of 1000BDT reimbursed via 50 weekly
settlements of 22BDT and correctly claims that this corresponds to the annual
interest rate of 20%. But this is without taking into account that if the
borrower has good reasons not to pay at one installment, she can postpone of
one week all remaining settlements, under the same conditions, so without extra
cost. This of course leads to a lower implicit interest rate. Introducing a
simple geometric law model for the time between settlements, this turns the
implicit interest rate into a random variable, whose laws is still unknown but
for which we provide simulated empirical distribution density function. De ning
by actuarial expected rate the real number r that satis es the expectation of
the random Yunus equation, we compute this number as a function of the
probability p of in-time installment. This allows in turn to compute the
implicit probability p which is to the value of p corresponding to the observed
3% default rate, where in practice, \default" means \more than four weeks
delay". The mathematical tool used is the probability generating function, the
computer tool is the Scilab algebraic equation solver.
