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If pawn shops charge high interest rates on loans why do people borrow money from them. Suppose Congress passes a law that puts a ceiling

If pawn shops charge high interest rates on loans why do people borrow money from them. Suppose Congress passes a law that puts a ceiling of 10 per year on the interest rate that pawn shops can charge on loans. Would this law be likely to help low income people. Briefly explain.

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This lies under whats noted as Usury laws So to answer this we want to grasp what this law is whats states and the way it generally works Usury laws are regulations governing the number of interest wh... blur-text-image

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