Comments on: Not an alternative http://paydaypundit.org/2009/11/10/not-an-alternative/ News and Information About The Payday Lending Industry Tue, 15 Jun 2010 10:29:51 -0700 http://wordpress.org/?v=2.9 hourly 1 By: iowaoperator http://paydaypundit.org/2009/11/10/not-an-alternative/comment-page-1/#comment-8535 iowaoperator Tue, 10 Nov 2009 17:57:34 +0000 http://paydaypundit.org/?p=5985#comment-8535 http://www.thonline.com/article.cfm?id=262890 Pundit here is another one today! http://www.thonline.com/article.cfm?id=262890

Pundit here is another one today!

]]> By: Jon Schultz http://paydaypundit.org/2009/11/10/not-an-alternative/comment-page-1/#comment-8532 Jon Schultz Tue, 10 Nov 2009 15:32:35 +0000 http://paydaypundit.org/?p=5985#comment-8532 Notice how the author narrowly focuses on the APR, which is not real money but simply an abstraction. People who focus on the APR don't seem to realize that a 6-month loan at 36% will cost the borrower, in actual dollars, 20% more than a two-week payday loan at 390%. A 9-month loan at 18%, as discussed here, will cost the borrower 90% as much. Notice how the author narrowly focuses on the APR, which is not real money but simply an abstraction. People who focus on the APR don’t seem to realize that a 6-month loan at 36% will cost the borrower, in actual dollars, 20% more than a two-week payday loan at 390%. A 9-month loan at 18%, as discussed here, will cost the borrower 90% as much.

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