to pay them back when your paycheck comes. Of course, you'll have to pay interest. The median fee charged by these types of Some of the most common (and most dangerous) examples of simple interest are short-term payday loans, which some lenders also call "cash advances. This is not to be confused with a cash advance on a credit card.) Let's say that you're going to get lenders is $15 per every $100 borrowed. 1. How much would you have to pay back in 10 days? 2. What is the percent interest you're charged? 3. What portion of a year is the 10-day period for this loan? Write your answer as both a fraction, and a decimal