What is a payday loan? Give us an example of the terms of a payday loan?...

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Finance

What is a payday loan? Give us an example of the terms of apayday loan? What explains why the interest rate on such loans sohigh? What is your personal opinion about payday loans? What isyour business opinion about payday loans?

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Meaning of payday loan Payday loan is the monetary loan which is provided to borrowers which is to be paid in full when borrower receives their next pay check The interest rate on these loans are usually high Example of payday loan Mr A has liability to pay 300 to repairman for furniture See Answer

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What is a payday loan? Give us an example of the terms of a payday loan?...

90.2K

Verified Solution

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Finance

What is a payday loan? Give us an example of the terms of apayday loan? What explains why the interest rate on such loans sohigh? What is your personal opinion about payday loans? What isyour business opinion about payday loans?

Answer & Explanation Solved by verified expert

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