<prompt> Human: So Im looking for a loan, and I happen upon a website called In the fine print youll notice a line that says, Our maximum interest rate is 490.. I did a double take. Not 49, which wouldve been brutal, but understandable, but four hundred and ninety percent. So if I borrow 5 Ill have to repay nearly 25. Is this legal? Or is it a scam site I scraped the bottom of the Internet barrel a little too far?  <response>: APR incorporates both the annual rate as well as the fee expressed in an annual rate.If I offer you a 200 loan, payable in 2 weeks for 10 interest 20 and for a 20 fee, you might think this is an acceptable deal - 40 to avoid a late fee on rent or a car repo is probably worth it.But thats 20 - or 40 - over two weeks. Annualized, that is a 520 interest rate 20 multiplied by 26.So, thats how these things happen. 