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COM155week+7+assignment - When making a purchase not only...

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Interest rates play a big role in purchasing decisions. When interest rates are high there are not very many purchases of high interest items, such as houses and vehicles. We usually hold off until the rates fall to a decent rate. Taking out loans is another thing seldom done when interest rates are high, unless it’s necessary. When checking into a credit card the interest rate is probably the first thing that comes to mind. Before making any major purchases make sure to be aware of what the interest rate is.
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Unformatted text preview: When making a purchase, not only is the interest rate important but whether it’s a fixed rate or a variable rate. A fixed rate stays the same forever in which a variable rate fluctuates. Finding a low interest rate not knowing its variable can cause unexpected increased payments down the line. Before making a decision on anything, make sure to research everything about the product including the interest rate. Making the wrong decision could be costly down the road....
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