latr - interest rates are the reason why there are plenty...

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There are a lot of people in America that do not make big purchases because of interest rates . An interest rate is the extra amount you will end up paying for a item because you did not pay all of the money up front. Interest rates are a big problem in America today. A lot of people want bigger and better things in life but sky rocketing interest rates are holding them back from doing it. I personally have held back from loans and brand new car buying because of this. After looking at the sudden drop in interest these past years it makes you take a second guess on why I haven’t took a risk yet. Interest rates are high and if you were smart you would make sure you know the percentage you are being charged to avoid bad surprises. One main reason why I do not like loans is because of interest rates,
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Unformatted text preview: interest rates are the reason why there are plenty of people in America in debt. America is in trillions of dollars in debt, a big part of this is because of high interest rates. There are high interest rates in almost every loan type of aspect you do. Home loans, car loans, credit card interest, and even personal loans have high interest rates. A lot of people end up paying more than double when it’s all said and done. These are the main reasons why I do not do loans. High interest rates are a crime shame by the government towards society and this is why President Obama made it a law that companies can only charge a certain amount of interest to someone. This should be a lesson to our kids and hopefully high interest rates will not be as big of a problem as it has been in the past....
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