There are mysteries in the universe the human mind cannot comprehend or grasp at once and one is the APR in payday loans. What is the significance of this bit of puzzle in high finance?
The APR
Someone intelligent came up with the APR to protect consumers from devious lenders. You can compare the APR or Annual Percentage Rate to the list of ingredients in a jar of pickles. From that list of ingredients, you know what you are going to get, loads of sodium and water and fresh pickles. With an APR in payday loans, you know how much you are paying for a loan in the course of a year. That includes the interests, charges and other mysterious fees.
Read more »
0 comments:
Post a Comment