contestada

Which of the following financial institutions typically
have the highest fees?
Check cashing and payday loan companies
Internet banks
Credit unions
Brick-and-mortar banks

Respuesta :

oopsydaisy

The correct answer is a check cashing company and payday loan company.

Further Explanation:

These types of companies have high interest rates for the people who use their services. Many people who use services like this may not have the best credit or do not have their own financial organization.  

In most cases, a check cashing company/payday loan company will charge up to 20$ per each hundred borrowed. The interest rates will vary depending on the lender but they range from 300% to 600%. If a person has to use a payday lender, it is important to pay off the debt as soon as possible and not renew the loan or more fees will be incurred.

Learn more about payday loans at https://brainly.com/question/8970854

#LearnwithBrainly

The financial institution that has the highest fees is A. Check cashing and payday loan companies.

  • A financial institution refers to a company that deals with monetary and financial transactions such as depositing money, withdrawal, giving loans, etc.

  • Examples of financial institutions are credit unions, commercial banks, internet banks, central banks, etc.

  • It should be noted that the financial institution that has the highest fees is the check cashing and payday loan companies.

Therefore, the correct option is A.

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https://brainly.com/question/15078080

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