[MCNetwork]

So consider the following question:

If principal equals $10,000 and APR equals $10%, how much total interest will you pay at the end of one year (assuming no other charges)?

What is your answer?

[Cfairbank]

So consider the following question:

If principal equals $10,000 and APR equals $10%, how much total interest will you pay at the end of one year (assuming no other charges)?

What is your answer?

Depends on the amortization schedule, but an installment loan (which would have the same schedule as a perfectly performing ACH cash advance) would be right around $500 (assuming 260 days, $509).

[bdshaw]

Depends on the amortization schedule, but an installment loan (which would have the same schedule as a perfectly performing ACH cash advance) would be right around $500 (assuming 260 days, $509).

Carl is correct. My suggestion is you invest less than $100 in an HP 12C calculator.

[MCNetwork]

Carl is correct. My suggestion is you invest less than $100 in an HP 12C calculator.

Why? I've closed several hundred cash advance deals and this APR problem never came up