Quote:
Originally Posted by fris
Curious say someone lends you 5k, so $7500 in return, is that nuts?
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That is way too open of a question, as it really depends on the length of time on the loan and the payback method.
Most 'loan sharks' I have ever known charge 10% per week, collectible each 7 days. So on a 5k loan, you pay $500 a week and after 10 weeks you have paid 100% in interest and still owe the principal in full. Miss a payment, lose a finger.