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|
|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|