COM155 Week 7 Assignment

COM155 Week 7 Assignment - also be high. High interest...

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Write 2 paragraphs about how interest rates affect our purchasing decisions Identify the topic sentence in each by underlining it Interest Rates Our purchasing decisions are affected by many different factors; one major factor is interest rates. We have to decide if we can afford to pay the credit back, including the interest. If you have good credit you are more likely to get a low interest rate . When your interest rates are low more of your payment will go to your principle then your interest. Low interest rates make things more affordable. Consumers are more likely to be able to afford to get the credit to pay it off faster with low interest rates. Low interest rates can be easier to pay off, but interest rates can
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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....
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