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Tool: Payday Loan Calculator
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Go to: http://216.250.243.12/paydayloaninfo/calc.cfm (opens a new window)
Description: How much does it cost to borrow money from a payday lender? Many companies quote the cost of loans as the cost to borrow $100, such as $15 per $100 or $20 per $100. Since the loan must be paid in a week or two, consumers may not realize how much loans cost under typical use.
Technology Type: JavaScript 
Author: Consumer Federation of America
Language: English 
Cost: Does not require payment for use

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Courses: Math 7 Finding percentages
Financial Education Annual percentage rate (APR), Borrowing, Loans, Payday loans