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24 July, 03:32

Why is the annual interest rate more important to a borrower who carries a balance than to a borrower who pays off the balance monthly?

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  1. 24 July, 04:01
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    The annual interest rate is more important to the borrower who carries a balance rather than a borrower who pays off the balance monthly because when paying the payable amount, it is greater in amount and far heavier than paying the amount due each month which will decrease the burden for the payer.
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