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Having a high interest rate greatly affects the account it belongs to. It will add up to high finance charges which will increase the balance, increase the monthly payment, and lower the amount of the payment that applies to the principle.
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∙ 10y ago
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When you are earning interest is it better to have high or low rates?
High rates.However, high interest rates are usually a consequence of high inflation rates and so what matters is not the interest rate but the real interest rate which is the nominal interest rate relative to the inflation rate.Thus a 3% interest rate when inflation is 1% is better that a 5% interest rate when inflation is 4%.
What is the interest rate risk?
There are many different interest rate risks to think about when dealing with money. You could potentially pay more than you get.
What benefits are there in consolidating debt mortgage?
Debt consolidation is when you take out a new loan to pay off all your debts - often at a lower interest rate. If you___re having trouble keeping up with several high-interest loans, it could be worth looking into. Debt consolidation can save you money, but there are risks.
Do you want a high or low interest rate in a savings bond?
If you are investing in a savings bond, you wish for it to have a high rate of interest. If you are selling savings bonds, you wish it to be at a low rate of interest.
What is an advantage of having an interest rate credit card?
The advantages of having a credit card with an interest rate is it helps build one's credit faster. The higher the interest rate of the credit card, the higher the credit score.
Who is the best provider of High Interest Rate Savings Accounts?
WaMu is the best provider of High Interest Rate Savings Accounts.
Is it better to have a credit card with a high interest rate or low interest rate?
If you carry a balance, then it's better to have a low interest rate. If you do not carry a balance, then the interest rate doesn't matter at all.
What is the bank with the highest Certificate of Deposit interest rate?
Everbank has a very high interest rate right now.
Whats the example of price risk?
exchange rate, interest rate, oil price, and inflation risk are all examples of financial risks.
Do All accounts receive the same rate of interest?
No. All accounts are different and thus have different risks and rewards. Thus, all accounts will accrue interest differently (although some may share the same interest rate).
Is a interest rate of 40 percent per month legal for a cash loan?
It's a very high interest rate but not illegal. A rate this high will give you an incentive to pay it back quickly.
How can interest rate help indicate the health of a countrys economy?
The risk of a nation is based on the interest rate...high rate bad health of country economy, low interest rate better situation
