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cash advance with bankruptcy :: If you are designing on borrowing $100 money for 2 weeks, paying a $15 service charge may appear cheap at the instant. However, changing this charge into a daily charge and use it to come back up with the annual calculation of share rate, you'll be sure a shock. First, calculate the daily charge by the whole quantity of fee by the amount of days of the loan amount. during this case is it'll be $15 divided by fourteen days, that equals to $1.07 a day. Multiply that range by twelve months so as to hit the Apr, that during this example is 391 p.c.
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