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OK, but during the Volcker shock interest rates when up to 18%. Not just a little. Go to an online loan calculator and try this: If you have a loan for 100k
by fallingfrog 5y ago
OK, but during the Volcker shock interest rates when up to 18%. Not just a little.
Go to an online loan calculator and try this: If you have a loan for 100k dollars, and the interest rate is 4%, your payment is 477 dollars a month.
If the interest rate is 18%, the payment is 1507 dollars a month. The difference is not minor.