High Interest Rate

Rubia D asked:


Eddie wrote a $280 check to a check holding company, which gave him $260 in cash. After two weeks the company will cash his $280 check. Find the annual simple interest rate for this loan. Note that the time is a fraction of a year.

JASON

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fox1388 asked:


We have a home loan but we have a very high interest rate. Now we owe for nothing except our house payment; can we get a better interest rate than what we have now. Our credit will show that we have no credit except for the home loan.

DEBRA

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audi4kv8 asked:


I’ve seen people take out 36 month, Php60,000 ($1,200) loans against their house and lot (worth Php1.2 million) with an APR of almost %100. Apparently this is pretty common… with the extraordinarily high interest, people can never pay down the principle and frequently lost their house to the bank.

I’m sure this has something to do with the instability of the Philippine Peso, but that can’t be the only reason. There are a lot of different banks, but is there competition?

Also, these are “legitimate banks”… nothing run by mobsters or anything.

RUTH

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rainbowgirl07 asked:


Is it easier to get approved quickly for a credit card that has a high interest rate or low-interest rate? Do credit card companies like to give away high interest rate credit cards to just about any sucker because they like to take their money? I seriously want to know!

VIRGINIA

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MS. B asked:


I have 2 cards I’m paying off. One has interest rate of 28%, the other about 26.5%. I usually pay more than the minimum, but it seems like it”s not making a dent. I don’t use the cards anymore. I would like to pay off the cards faster but the rates kill. what can be done?

DORIS

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• 2011 Mortgage Interest Rate Predictions
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