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<p>[QUOTE=&quot;bg35765, post: 1661915, member: 42710&quot;]Interest rates are typically quoted in yearly rates.&nbsp; So $15.00/$75.00 is 20% interest if the pawn shop gives you one year to pay them $90.00 to get your coins back.&nbsp; </p><p><br /></p><p>But that is not typically how it works, at least not in most states.&nbsp; If you don&#039;t have the $90.00 in a month you have to pay them another $15.00 to renew the loan.&nbsp; So if you just renew the loan every month for a year it would be ($15.00 x 12) / $75.00 which is a 240% annual interest rate.[/QUOTE]</p><p><br /></p>

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