Question

payday loans which is true about payday loans? you can pay them back in installments you are charged a 1-time fee for the loan most people successfully pay these loans back you need a credit card account to get one

Explanation:

To determine the true statement about payday loans:

• "You can pay them back in installments": False. Payday loans are typically due in full on the next payday, not installments.
• "You are charged a 1 - time fee for the loan": True. Payday loans usually have a single - fee structure (based on the loan amount) rather than ongoing interest in the traditional sense, and the fee is charged once for the loan.
• "Most people successfully pay these loans back": False. Many borrowers struggle to repay and end up in cycles of debt.
• "You need a credit card account to get one": False. Payday loans generally require proof of income, a bank account, etc., not a credit card account.

Answer:

B. You are charged a 1 - time fee for the loan