Payday Loans Quiz

5. What was the average dollar amount of a payday loan in the state of Missouri in 2010?

d. INCORRECT

The average dollar amount for a Missouri payday loan in 2010 was $307.56, an amount that has continued to increase yearly since the amounts have been published.

Reference: Missouri Division of Finance. (2011). Report to General Assembly pursuant to section 408.506 RSMo. Retrieved January 20, 2011 from http://finance.mo.gov/consumercredit/documents/2011PaydayLenderSurvey.pdf.