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Licensed small loan corporations or signature loan companies can charge 24 to 48th annual interest, and they might allow you to form payments in monthly installments. this can be a cheaper different. for example, if the interest rate is three hundred and sixty five days and you borrow $500 and make monthly payments for four months till it's paid off, the whole 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 charges, assuming the fee is $17.50 per $100 that you just borrow.
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