Questions: Tax refund loans are a( n ) way to borrow money in case of a cash shortfall. difficult cheap expensive slow

Tax refund loans are a( n ) way to borrow money in case of a cash shortfall. difficult cheap expensive slow
Transcript text: Tax refund loans are a( $n$ ) $\qquad$ way to borrow money in case of a cash shortfall. difficult cheap expensive slow
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Solution

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The answer is: expensive.

Explanation for each option:

  • Difficult: This option is incorrect because tax refund loans are not necessarily difficult to obtain; they are often marketed as quick and easy solutions.

  • Cheap: This option is incorrect because tax refund loans typically come with high fees and interest rates, making them costly.

  • Expensive: This is the correct answer. Tax refund loans are considered expensive due to the high fees and interest rates associated with them, which can significantly reduce the amount of the actual tax refund received.

  • Slow: This option is incorrect because tax refund loans are designed to provide quick access to funds, often within a day or two.

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