Answer:
The payment method typically charges the highest interest rates is the Payday loan
Step-by-step explanation:
Payday loan is a relatively small amount of money lent at a high rate of interest on the agreement that it will be repaid when the borrower receives their next wages. This method of paying loan becomes very difficult to repay if the borrower gets stuck in any problem. If we talk about banks and not the people then Payday loans range in size from $100 to $1,000, depending on state legal maximums. The average loan term is about two weeks and it should be repaid in the given time.