Explain the difference between a 10 percent interest rate charged on a payday loan and a 10

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Explain the difference between a 10 percent interest rate charged on a payday loan and a 10 percent interest rate charged by a bank on a personal loan.

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Personal Finance

ISBN: 978-0134040042

3rd Canadian Edition

Authors: Jeff Madura, Hardeep Singh Gill

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Question Posted: Dec 02, 2015 04:09 AM

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Explain the difference between a 10 percent interest rate charged on a payday loan and a 10

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The 10 rate charged by a bank is the annual rate The amount you pay will ...View the full answer

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