Thursday, March 27, 2008

Good news for fraudulent lenders

Your victims may not even know they have been defrauded:

The large majority of respondents did not understand interest compounding and other debt calculations and did poorly on the questions. For instance, more than half of respondents did not understand how minimum payments are calculated and applied to a principal balance, and almost none understood the financial difference between paying in installments or paying in one lump sum at the end of a time period.

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