Question

Which of the following statements is TRUE about payday loans? A. They are harder to pay back because of high fees and B. They are harder to pay back because of low fees and high interest rates. high interest rates. C. They are easier to pay back because of lower fees and D. They are easier to pay back because of lower fees and higher interest rates. lower interest rates.

Answer 1

B. They are harder to pay back because of low fees and high interest rates. high interest rates.

Answer 2

Payday loans are B. harder to pay back because of low fees and high intesest rates. Payday laons are small amount loans that are given to a person with a high interest rate. These loans are deemed to be paid back to the lender when the borrow receives their next paycheck.