This makes some sense if making the transaction has a fixed cost. If I had to sp...

rudyfink on May 16, 2008 | parent | context | favorite | on: Is it acceptable to profit from the poor?

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.