What is the true apr of this payday
JJ has a Payday loan for $500. The Payday loan company is charging JJ 12% interest for a 3-month loan. JJ thinks he’s getting a great deal – only 12%! What is the true APR of this payday loan?
A. 12% APR, duh.
B. 48% APR
C. 4% APR
D. 312% APR
Expected delivery within 24 Hours
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jj has a payday loan for 500 the payday loan company is charging jj 12 interest for a 3-month loan jj thinks hersquos
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