Hello all. Without getting into too much detail, I got myself into a bad bind wherein I had to take an immediate loan. It isn't a payday loan in that I am not required to pay it off by next payday. However, I took $700, with a whopping 772% apr over 12 months. It will hit my account tomorrow. The amount owed is, according to the terms, based on a simple daily interest rate, with 772% being the max should I take a full year to pay it off. I have linked images of the payment plan and the terms.
I am confused as hell. Never was good at math. Could someone help me understand how much I'd have to pay per week if I wanted to pay it off in, say, 3 months? Thank you.
Submitted April 07, 2020 at 08:04PM by Boxer_Santeros https://ift.tt/2JNvCX1
