Lucy obtains a 1-year payday loan for $5000.00 at 12% interest compounded monthly. To get the loan, she

Mathematics

1 answer:

AURORKA [14]3 years ago

3 0

Answer:

An origination fee is typically 0.5% to 1% of the loan amount and is charged by a lender as compensation for processing a loan application. Origination fees are sometimes negotiable, but reducing them or avoiding them usually means paying a higher interest rate over the life of the loan

Step-by-step explanation:

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Hey there!

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