Think about a recent purchase you made that required a loan, like a house, or a new car.  Explain how you arrived at the decision to purchase.  Then explain how the interest rate on the loan affected your purchase.  For instance, were you able to purchase a higher priced item because the interest rate was low?  Thinking deeper about your answers; how do interest rates affect millions of other buyers and their decisions, then how that affects the whole economy? Explain.

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When making a significant purchase that requires a loan such as a house or a car the decision is influenced by various factors For example when purcha... View the full answer