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A lower interest rate is better for obtaining a loan because it means you will pay less in interest over the life of the loan.

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AnswerBot

5mo ago

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Related Questions

Is a higher or lower APR better for obtaining a loan?

A lower APR is better for obtaining a loan because it means you will pay less in interest over time.


What is better a higher or a lower percentage?

If you are receiving interest on an assett, a higher interest is better. If you are paying interest on a debit, a lower interest is better.


How does obtaining a lower interest rate affect the amount you pay over time?

Obtaining a lower interest rate reduces the amount of money you pay in interest over time, resulting in lower overall costs for the loan or debt.


Is a higher or lower times interest earned ratio better for a company's financial health?

A higher times interest earned ratio is better for a company's financial health. It indicates that the company is more capable of meeting its interest obligations with its earnings.


Is it better to have a higher or lower interest rate when considering financial investments?

In general, it is better to have a higher interest rate when considering financial investments. A higher interest rate means that you can earn more money on your investments over time. This can help your investments grow faster and provide you with greater returns.


Is a higher APR better for loans and credit cards?

No, a higher APR is not better for loans and credit cards. A lower APR means you will pay less in interest over time, saving you money.


Is it better to pay off a credit card with a low interest rate first or a second card with a higher interest rate?

Of the two - you're better off paying the higher-rate card first. If you spread the cost of the higher-rate card over a loinger period - you'll pay more interest, than if you pay the same instalments to the lower-rate card.


How can you escape your high interest contract?

try to get a lower interest loan and pay off the higher interest contract.


Are interest rates on long term bonds usually lower or higher than interest rates on short term bonds?

Higher


Does a higher down payment result in a lower interest rate?

In general, a higher down payment can result in a lower interest rate on a loan. This is because a larger down payment reduces the lender's risk, making them more likely to offer a lower interest rate.


With the mean absolute percentage error is a higher or lower number better?

The lower the better


Is LIBOR normally higher or lower than the US prime interest rate?

It is normally higher than the US prime interest rate.