This preview shows page 1. Sign up to view the full content.
Unformatted text preview: also be high. High interest rates affect our purchasing decisions more than low interest rates. When buying something that requires credit you are more likely to get a high interest rate if your credit score is low. Often installment loan companies have high interest rates where most of your payment goes to the interest. When you have most of your payment going to interest it takes a lot longer to pay off and it is easy to get stuck in a cycle of refinancing. High interest rates make people less likely to purchase an item versus low interest rates....
View Full Document
- Spring '10