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liubo4ka [24]
3 years ago
6

Summarize the effect of credit card interest on thermal cost of items

Business
1 answer:
Mice21 [21]3 years ago
3 0

Answer:

Interest Rates

<em>The first factor is the most obvious: the interest rate. Naturally, a low rate will cost you less—our numbers indicate a $10,000 balance with a 5.9% interest rate will cost $10,637 in total if paid off in 2 years.</em>

<em>That may not sound too bad, but bear in mind that 5.9% interest is extraordinarily difficult to get these days. Even people with excellent credit scores will likely pay “double digit” interest rates of over 10%. And if you’re paying a more typical 12.9% in interest on that same $10,000, you’ll pay a total of $12,797 over the same 2 years.</em>

Hope I Helped

<u><em>From Google</em></u>

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