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Verdich [7]
3 years ago
12

Describe the factors that determine the amount you ultimately pay for borrowing money. How is it possible to reduce the amount y

ou end up paying
Business
2 answers:
Gnesinka [82]3 years ago
5 0
It is by interest. You can reduce the amount you pay, by paying more. You can either go ahead and pay it all off, or pay extra when it is time to make a payment.
Yuri [45]3 years ago
5 0

the factors would be the % of interest you pay on that card (apr) and how fast you pay off your balance.

ex. if i borrow 10 dollars and pay it off the full amount when i get my statement at the end of the month i usually pay no interest but if i pay a % of the money i owe they will add on interest to the amount borrowed.

hope this helps

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