question 9 / 10 which of the following statements is true about payday loans? a. they are harder to pay back…

question 9 / 10 which of the following statements is true about payday loans? a. they are harder to pay back because of low fees and high interest rates. b. they are harder to pay back because of high fees and high interest rates. c. they are easier to pay back because of lower fees and higher interest rates. d. they are easier to pay back because of lower fees and lower interest rates.

question 9 / 10 which of the following statements is true about payday loans? a. they are harder to pay back because of low fees and high interest rates. b. they are harder to pay back because of high fees and high interest rates. c. they are easier to pay back because of lower fees and higher interest rates. d. they are easier to pay back because of lower fees and lower interest rates.

Answer

Brief Explanations:

Payday loans typically have high fees and high - interest rates, which make them difficult to pay back. High costs mean borrowers have to pay more money in addition to the principal amount, increasing the repayment burden.

Answer:

B. They are harder to pay back because of high fees and high interest rates.