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This makes some sense if making the transaction has a fixed cost. If I had to spend the same amount of time to fill out a 14 day loan as a multi-year one, I'd
by rudyfink 18y ago
This makes some sense if making the transaction has a fixed cost. If I had to spend the same amount of time to fill out a 14 day loan as a multi-year one, I'd need to price the shorter one higher even if I wanted the same APR otherwise.