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22 votes
Nicholas wants a new cell phone. Rather than waiting until payday, he decides to get a payday loan of $200. He promises to repay the loan on payday plus a $20 fee. The loan company explains that if he is unable to pay the loan by this date, they will give him an extension and only charge an additional $20. The day before he is to repay the loan, a pipe in his bathroom breaks. Since he had to pay for the plumbing repair he cannot repay the loan. It takes Nicholas 8 weeks to repay the original $200 he borrowed. His total repayment was $280. How could Nicholas have avoided the high fees he was now required to pay?

User Curio
by
8.6k points

1 Answer

3 votes

It's my first night out with you

So treat me and buy me shoes

I wanna be your fantasy prey for me

I wanna be your girl wanna be your girl (wanna be your) just give me some time ill be ready

User Deepak Dholiyan
by
9.0k points
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