Understanding the fees associated with any loan can be a trying process, and payday advance loans are no different. Just as with any other loan, there will be an annual percentage rate (APR) associated with your payday loan. However, since cash advance loan terms are usually only up to 30 days, this can seem a bit confusing.
The APR is the interest and fees on the loan paid over the course of a year. Every lending institution, including cash advance lenders, is required by the federal government to post these …