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usurer
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∙ 13y ago
samuel kiser
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Why does a high interest rate discourage people from holding their money in cash?
They can earn interest on the cash if it is invested.
How do banks encourage people to use accounts to save money?
high interest rate
Why do cash advances have such a high interest rate?
Cash advances mostly have high interest rates because they can. They prey on people who need money in a hurry and don't have any other lower-interest options.
What advantages are there to becoming a hard money lenders?
You would make a lot of money because the interest would be very high since they lend a lot of cash and the interest is high so that people are encouraged to pay back right away.
Can you save money with a high interest savings account?
Yes, a high interest account is a very desirable savings account because you will gain a decent amount of interest on your money. You will gain much more money if you get compound interest by saving more money into the account monthly.
Why does a high interest rate discourage people from holding their money in cash?
They can earn interest on the cash if it is invested.
Why does high interest rate discourage people from holding their money in cash?
They can earn interest on the cash if it is invested.
How do changes in interest rates affect money supply?
When the interest rates are high, people would prefer to save than holding money. That means money supply in the economy is decreased. Whereas when the interest rates are low people prefer to hold money and spend, means increased money supply in the economy.
How do banks encourage people to use accounts to save money?
high interest rate
How do changes in interest rates affect the money supply?
When the interest rates are high, people would prefer to save than holding money. That means money supply in the economy is decreased. Whereas when the interest rates are low people prefer to hold money and spend, means increased money supply in the economy.
Why do cash advances have such a high interest rate?
Cash advances mostly have high interest rates because they can. They prey on people who need money in a hurry and don't have any other lower-interest options.
Why do people pay high interest rates?
Some people pay a high rate because they do not understand how much it will cost them in interest over the term of the loan. Some people pay high interest because they need fast money or have poor credit and they take the rate they can get, Some people only think about what helps them right now.
Which of the following would be a likely result if interest rates are high?
People would save more money.
What advantages are there to becoming a hard money lenders?
You would make a lot of money because the interest would be very high since they lend a lot of cash and the interest is high so that people are encouraged to pay back right away.
Can you save money with a high interest savings account?
Yes, a high interest account is a very desirable savings account because you will gain a decent amount of interest on your money. You will gain much more money if you get compound interest by saving more money into the account monthly.
What does Usury mean?
As a general definition, usury is loaning money at extravagant interest rates. The legal definition varies. The practiced of lending money to people, especially making them pay unfairly high rates of interest.
How interest rate affect households?
If your interest is high then the money remain with you will be low to support your need. On the contrary you will be left with more money if the interest rate is low.
