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Would you want a high or low interest rate when you borrow money?
Wiki User
∙ 10y ago
You would want a low interest rate because you are paying interest. Wow I just answered my own question:-)
Wiki User
∙ 10y ago
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What is the accurate definition of payday loan?
A payday loan is a high interest short term loan. A borrower will borrow a sum of money for a short time and pay it back with a very high interest rate attached.
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.
Where can one register for high interest money market accounts?
You can register high interest money making accounts at your current banking institution. There are also several non traditional online banks that would be willing to help you with these services.
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 is targeted to borrowers with low credit scores high debt to income ratios or signs of a reduced ability to repay the money they borrow?
A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow
How does bankruptcy afact your credit?
you will pay high interest rates when you borrow money
What is the accurate definition of payday loan?
A payday loan is a high interest short term loan. A borrower will borrow a sum of money for a short time and pay it back with a very high interest rate attached.
Why do banks want interest rates to remain low?
With low interest rates the prices of bank borrowing (you borrow money to a bank) is low, therefore they can re-borrow money to others at lower costs and this leads to either A) more people borrowing if price is low or B) more profit for banks if price is high. In both cases, banks win.
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.
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.
Where can one register for high interest money market accounts?
You can register high interest money making accounts at your current banking institution. There are also several non traditional online banks that would be willing to help you with these services.
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.
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.
Is targeted to borrowers with low credit scores high debt to income ratios or signs of a reduced ability to repay money they borrow?
A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow
What is targeted to borrowers with low credit scores high debt to income ratios or signs of a reduced ability to repay the money they borrow?
A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow
What is high interest savings?
This would be a type of savings account that held your money in a higher interest bracket than a traditional account. There could be higher risk, however.
