What's the APR and How is it Calculated?
It is not unusual when it comes to percentage that is annual (APR) to go beyond 500% and on occasion even 1000%. The apr is determined by ((principal * 365) / term) * 100. The APR that is average a pay day loan or advance loan is 391%. State laws will determine simply how much a brick and mortar or online payday lender can lend and ex...