payday loan stores are regulated to ensure low interest rates. *\ntrue\nfalse\na common requirement to use a…

payday loan stores are regulated to ensure low interest rates. *\ntrue\nfalse\na common requirement to use a payday loan store is: *\nexcellent credit score\nhome ownership\nproof of steady income or employment\nbank account with $10,000 minimum

payday loan stores are regulated to ensure low interest rates. *\ntrue\nfalse\na common requirement to use a payday loan store is: *\nexcellent credit score\nhome ownership\nproof of steady income or employment\nbank account with $10,000 minimum

Answer

Brief Explanations:

Payday loan stores typically have high - interest rates. They are short - term, high - cost loans. For the second question, payday loan stores usually require proof of steady income or employment (as they rely on the borrower's next paycheck for repayment). They do not typically require an excellent credit score (as they are often used by those with poor credit), home ownership, or a bank account with a $10,000 minimum.

Answer:

  1. B. False
  2. C. Proof of steady income or employment