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Hi Atty,
Hope all is well with you. Just call me RM, I would like to ask your stand with regards on the Interest rate charged by my friend for my loan with her last May 2014 (70K), July 2014(50K) and December (50K). I actually paying her without knowing the actual interest charged to me. I just found out last week of Januaray that I was being charged of 8% per month, which is equivalent to 96% per annum. Question: Is this a valid Interest rate?
Hope all is well with you. Just call me RM, I would like to ask your stand with regards on the Interest rate charged by my friend for my loan with her last May 2014 (70K), July 2014(50K) and December (50K). I actually paying her without knowing the actual interest charged to me. I just found out last week of Januaray that I was being charged of 8% per month, which is equivalent to 96% per annum. Question: Is this a valid Interest rate?
