If I borrow $1000.00 from a payday loan place and I have 45 days to pay it back at 365.00% annual %

At 1% compounded daily you would have to pay back a total of nearly $1500............you are paying more than $10 per day for the money.....pay it back earlier if you can...you'll save a lot of money........

If I borrow $1000.00 from a payday loan place and I have 45 days to pay it back at 365.00% annual % rate?

Is that what they want to charge you 365% annual rate? WOW. Such a bad deal. You must need the money huh?

If I borrow $1000.00 from a payday loan place and I have 45 days to pay it back at 365.00% annual % rate?

you got something wrong, that is impossible.....it would be illegal Maybe they are charging like 1% compounded daily....about $1200 in 45 days, for a total of $2200 for a $1000 loan

If I borrow $1000.00 from a payday loan place and I have 45 days to pay it back at 365.00% annual % rate?

steer clear of those places....you lose, every time.

If I borrow $1000.00 from a payday loan place and I have 45 days to pay it back at 365.00% annual % rate?

45 days and 365% annual rate?! Are these guys loan sharks?!

If I borrow $1000.00 from a payday loan place and I have 45 days to pay it back at 365.00% annual % rate?

The annual rate is 365% ??? Is that right?

Payday loans are such scams. You might as well be borrowing money from a loan shark. Trying to find any other (legal) way to get the money.

If I borrow $1000.00 from a payday loan place and I have 45 days to pay it back at 365.00% annual % rate?

Then in 45 days you will need another loan for more money.

If I borrow $1000.00 from a payday loan place and I have 45 days to pay it back at 365.00% annual % rate?

that is called usury and it should be illegal. stay away from those places, you will dig yourself a hole that you can never get out of.

If I borrow $1000.00 from a payday loan place and I have 45 days to pay it back at 365.00% annual % rate?

You better see a loan shark. Their rates are far cheaper!

If I borrow $1000.00 from a payday loan place and I have 45 days to pay it back at 365.00% annual % rate?

Wow, 365%, actually that is rather low for a payday loan. Most places charge upwards of 400%. I worked in the business for 8 years and believe me, you don't want to do this. There are other alternatives such as Consumer Credit Counseling or local small personal loan businesses like Citifinancial or Household Finance. If you take this out you will get into a never-ending cycle. I have seen this far too many times, search for other alternatives. Once you pay it back it is too easy to get it back. You will find yourself in another bind, usually because of the loan you took out at such a ridiculous rate, and you will see no other alternative than to do the same thing. I can't stress this enough, DON'T DO IT! Good luck!