Home/ Questions/Q 102848
Next
In Process

Quizzma Latest Questions

In:

Which of the following statements is TRUE about payday loans?

Quizzma Team

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




Share
    Leave an answer

    Leave an answer

    Browse

    What is the capital of Egypt? ( Cairo )

    1 Answer

    1. Quizzma Team

      The correct answer is C. They are harder to pay back because of high fees and high interest rates.

      Explanation: Payday loans typically come with very high fees and high interest rates, making it difficult for borrowers to pay them back on time. This can lead to a cycle of debt where borrowers may need to take out additional loans to cover the original loan, increasing their financial burden. Always consider the terms and conditions carefully when dealing with payday loans.

    Related Questions