Thursday, July 19, 2012

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Licensed tiny loan companies or signature loan corporations can charge twenty four to 48th annual interest, and that they may allow you to make payments in monthly installments. this can be a more cost-effective different. for example, if the interest rate is 365 days and you borrow $500 and create monthly payments for four months until it's paid off, the entire interest you will have paid is $38.04. However, if you borrow the same $500 from a payday loan company, and renew it every two weeks for those four months, you will have paid around $700 in interest and fees, assuming the fee is $17.50 per $100 that you just borrow.














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