The atmosphere surrounding Earth is full of air! The air in our atmosphere is made of molecules of different gases. The most common gases are nitrogen (78%) and oxygen (about 21%). There are other types of air molecules as well, but in very small quantities.Air is important for almost all life on Earth including plants and animals.he air is thinner higher in the atmosphere because there is lower pressure the higher you go up. There is a special layer of air molecules high in the stratosphere layer of Earthâs atmosphere, called the ozone layer.
Because the loans have such short terms, the cost of borrowing is generally high. A typical payday loan with a two-week term and a $15 per $100 fee has an annual percentage rate (APR) of nearly 400%, according to the CFPB. (Hereâs a primer on how interest rates work.) How Do Payday Loans Work?
A charge of $15 to borrow $100 doesnât seem extreme or exploitative to borrowers trying to avoid having a service turned off or catch up on their rent or mortgage. But when fees are annualized, they often amount to triple-digit interest rates or more. Iâve seen payday loan contracts with four-digit interest rates. Payday lenders are required to tell you the finance charge and the annual interest rate (the cost of the credit) on a yearly basis. Defenders argue that these loans provide a service for people who need short-term cash. And they are right. Many people feel they are being rescued. Until things go wrong.