Handbook: The Cost of Borrowing – Learn what you need to know quickly (2011)

In this guide, the authors explain the real costs of various means of borrowing money to pay for something.

They choose an item with a price-tag of $300, then show what a consumer will eventually pay if, instead of cash, he uses a line of credit, overdraft protection, various types of credit cards, or a payday loan to purchase the item.

Once interest and other fees are included, the cost of the item varies from the $300 sticker price if the buyer pays cash to a high of $340 if he uses a payday loan.

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2012-01-19
APA citation
ABC Life Literacy Canada. Handbook: The Cost of Borrowing – Learn what you need to know quickly 2011. Web. 22 Apr. 2021 <http://en.copian.ca/library/learning/abc_llc/money_matters/handbook_borrowing/handbook_borrowing.pdf>
ABC Life Literacy Canada (2011). Handbook: The Cost of Borrowing – Learn what you need to know quickly. Retrieved April 22, 2021, from http://en.copian.ca/library/learning/abc_llc/money_matters/handbook_borrowing/handbook_borrowing.pdf
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