Week 7 - economy High interest rates are also causing...

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In a total of 200 words, write two paragraphs with about how interest rates affect our purchasing decisions. Identify the topic sentence in each by underlining it. An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. If something will cost far more than it is originally worth because you do not have the money to buy it, then you should wait until you can afford it and stay out of debt. Being that interest rates are getting so high, many people are rethinking about buying a home. People have to have excellent credit to get a low interest rate of 4.4%, but if you don’t have excellent credit you are looking at extremely high interest rates. High interest rates are making a lot of people reconsider about buying a home in this
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Unformatted text preview: economy. High interest rates are also causing people to make the decision to not go back to college . When going back to school a majority of people do not have the money to pay out of pocket for their school, so they have to qualify for student loans. A majority of college students either have horrible credit or don’t have credit at all, and when they are trying to apply for student loans they are looking at paying thousands of dollars just in interest rates. That is not even including the thousands of dollars they are borrowing to pay for school. Not being able to pay for school because of high interest rates are causing more people to go back to college....
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