A payday loan is one type of single payment loan. Payday loans are short-term loans. They are called payday loans because they mature just after the borrower's next paycheck arrives. D PAYDAY LOANS! Jim has: The lender gives the borrower cash for the amount of the loan Jim has: IS 100 The borrower writes a postdated check to lender with the amount borrowed plus a fee Jim has: Payday loan offices can be found every- where, but the lows vary from state to state. In short, if you can prove you are employed, you will most likely qualify Jim has: $ -125 At the date of loan maturity (the next payday). the borrower must pay off the loan. If he or she doesn't, the lender cashes the check In 10 words or fewer, how much money would a payday lender make if it had 12 customers in one day doing the same as above? wwer here