once u agree, if ur his freind you cant back out, i think 125 for 7-10 pages is a low but going rate is about $10-20 per page, hes not paying you for a "half assed" paper either, the paper should be good regardless of the agreed upon terms. to most college kids $125 is alot of cash-he is paying for a A-B paper. they all dont have a poker players perception of money (i personally think for 10 pages 100-200 is about right)

his deadline does not change because u change ur mind, and tell him later that you dont want to do it.

also saying its ethically wrong so you wont do it becuase u want more money/dont feel like doing the paper IS TOTAL BS