www.firstmutualfinance.com

www.firstmutualfinance.com >> Get up to $1500 as soon as Today. Not Send Fax to US.

Receive Fast Money Now from  www.firstmutualfinance.com 100% Approval Online. Get up to $1000 Cash as early as within 1 Hour using No Long Application Form Online.
Want Minimum Requirements for Payday Loans?  www.firstmutualfinance.com Receive $100 to $1000 Loan as Quickly as within 1 Hour. No Faxless & No Hassle OK. Get Fast Cash Now.

Apply Now   www.firstmutualfinance.com

There are mysteries in the universe the human mind cannot comprehend or grasp at once and one is the APR in payday loans. What is the significance of this bit of puzzle in high finance?

The APR

Someone intelligent came up with the APR to protect consumers from devious lenders. You can compare the APR or Annual Percentage Rate to the list of ingredients in a jar of pickles. From that list of ingredients, you know what you are going to get, loads of sodium and water and fresh pickles. With an APR in payday loans, you know how much you are paying for a loan in the course of a year. That includes the interests, charges and other mysterious fees.

But if payday loans are short-term loans, what is an APR doing here? Is someone joking? No; so tighten your seatbelts please. An APR in short term loans reflect the fees on these loans. This is supposed to help you make an informed choice before you take out a fast loan.

If you take out a $200 loan, the fees might be $50 assuming this is the going rate for loan fees. Change the two weeks into a year. There are 52 weeks; divide this by 2; you get 26 two weeks in a year. Now multiply the 50 fee by 26 weeks you get 1,300 yearly charges. To get the APR percentage divide 1,300 by 200 you get an outrageous 650% APR! It's all right; you can take a deep breath now. Got the picture?