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A payday loan is structured to obscure the true interest rate you're paying. For example, in Washington you pay a $35 fee for a two
A payday loan is structured to obscure the true interest rate you're paying. For example, in Washington you pay a $35 fee for a two week $180 payday loan (when you repay the loan, you pay $215).
what is the effective annual interest rate for this loan? assume 26 biweekly periods per year
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Accounting The Easy Way
Authors: Peter J. Eisen
4th Edition
0764119761, 978-0764119767
