Econ 422 R - Weebly
EFFECTIVE ANNUAL RATES . Consider “payday loans”. Payday loans are short-term loans made to consumers, often for less than two weeks, and are offered by companies such as AmeriCash Advance and National Payday. The loan works like this: You write a check today that is postdated and the company gives you an amount of money less than the check. When the check date arrives, you go to … ................
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