Example of a $500 loan with a $300 credit services fee charged by the Credit Services Organization. The Lender’s interest rate on this loan is 25% per annum.
Annual Percentage Rate: The APR is the cost of your loan expressed as a yearly rate. This APR is based on example loan terms of exactly six (6) bi-weekly installments. The APR will increase if the actual loan term is shorter than these examples, and will decrease if your loan term is longer.
| ANNUAL PERCENTAGE RATE | FINANCE CHARGE | AMOUNT FINANCED | AMOUNT FINANCED |
|---|---|---|---|
| 431.4849%e | $327.06e | $500.00 | $827.06 |
| The cost of your credit as a yearly rate. | The dollar amount the credit will cost you. | The amount of credit provided to you or on your behalf. | The amount of credit provided to you or on your behalf. |
| Number of Payments | Payment Amount |
|---|---|
| 1 | $137.84 |
| 2 | $137.84 |
| 3 | $137.84 |
| 4 | $137.84 |
| 5 | $137.84 |
| 6 | $137.84 |