Regulate - Yes
Regulate - No
No opinion
There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.
Blog me! YouTube me! SpkOut me!
There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.
Blog me! YouTube me! SpkOut me!
Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.
Alexis de Tocqueville
Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.
Alexis de Tocqueville
Horse sense is the thing a horse has which keeps it from betting on people. ~W.C. Fields
Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.
Alexis de Tocqueville
So, How do you Calculate the True Annual Percentage
Rate on a Payday Loan?
You will need to know three things before you start, as follows:
First, what is the amount of credit the borrower will receive (Amount Financed) = i.e., $350.00.
Second, what is the dollar amount the credit will cost (Finance Charge) = i.e., $50.00.
Third, what is the term of the loan = i.e., 14-days.
Step 1 – Divide the total Finance Charge ($50.00) by the Amount Financed - the amount the
borrower will receive ($350.00) = 0.142857.
Step 2 – Multiply the answer (0.142857) by the number of days in the year (365) = 52.142857.
Step 3 – Divide the answer (52.142857) by term of the loan (14-days) = 3.724489.
Step 4 – Move the decimal point to the right two places and add a percent sign = 3.724489
becomes 372.45% Annual Percentage Rate (see note below).
What if you Know the Cost per $100.00 and Want to
Convert That to a True Annual Percentage Rate?
You will need to know three things before you start, as follows:
First, what is the amount of credit the borrower will receive (amount Financed) = i.e., $500.00.
Second, what is the cost for the loan per hundred = i.e., $20.00 or 20%.
Third, what is the term of the loan = i.e., 14-days.
Step 1 – Divide the Amount Financed - amount the borrower will receive ($500.00) by 100 = 5.
Step 2 – Multiply the answer (5) by the amount per hundred ($20.00 or 20%) to find the total
Finance Charge = $100.00.
Step 3 – Divide the total Finance Charge ($100.00) by the amount the borrower will receive
($500.00) = 0.2.
Step 4 – Multiply the answer (0.2) by the number of days in the year (365) = 73.
Step 5 – Divide the answer (73) by term of the loan (14-days) = 5.214285.
Step 6 – Move the decimal point to the right two places and add a percent sign = 5.214285
becomes 521.43% Annual Percentage Rate (see note below).
Note: Annual Percentage Rate always has no more than two places to the right of the decimal point.
http://www.stoppaydaypredators.org/p...l_howtocal.pdf
maybe, just maybe you might want to listen up once in a while
the only thing idiotic was your response
“Most of the shadows of this life are caused by standing in one's own sunshine.”
Ralph Waldo Emerson
If you need a loan then ensure you can pay it back. As long as there is no lying on the part of creditors about rates of paying back, I see no issue. If people are dumb enough to take out a loan at 300%, sorry, but nothing the government can do will help you.
Run your own nation, play Cybernations."Conservatism is the blind and fear-filled worship of dead radicals."
- Mark Twain
There are credit counseling agencies all over the country. In every state. HUD counseling. Debt consolidation programs. Debt management programs. Under the FCRA and also Reg B there are very often Consumer Counseling agencies recommended in Adverse Action Notices. These agencies exist already.
Horse sense is the thing a horse has which keeps it from betting on people. ~W.C. Fields