Payday loans have implied interest rates of as much as

Name: Payday loans have implied interest rates of as much as
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Payday loans have very high interest rates and fees, with many loans having an APR of around 400%. This means that if you borrow $100, you may end up having to repay $400 or more over a short period of time. It is important to consider alternatives to payday loans, as they can quickly lead to a cycle of debt and financial hardship.

Payday Loans Have Implied Interest Rates of as Much as