Final answer:
The specific payday loan fee for Laura cannot be calculated without additional information about the fee structure. Usury laws capping interest rates likely impact the amount and cost of loans. Charese's and Tyler's loan repayment specifics require additional financial details for precise calculations.
Step-by-step explanation:
The information provided does not contain specifics about the fee structure of Laura's payday loan. Typically, payday loans involve a certain percentage of the loan amount or a fixed fee. However, without the specific fee percentage or fixed amount, it's impossible to calculate the dollar value of the fee that Laura would be required to pay to begin the payday loan. If you have details about the fee structure, such as a percentage or a fixed cost associated with the payday loan, please provide it so that I can assist you further.
Regarding your other queries:
- Charese will need more details like the payment frequency and how the interest is compounded to accurately calculate the yearly payments on a $200,000 student loan with 6.8% interest.
- To determine how long Tyler will take to pay off a $5,000 credit card bill at 21.9% APR with monthly payments of $300, one would typically use the formula for the amortization of a loan.
- A usury law limiting interest rates to no more than 35% would likely decrease the amount of high-interest loans made, as lenders may be less willing to offer loans at a capped interest rate, and it might reduce the overall interest rates paid by borrowers on such loans.