What role do interest rates play in mounting consumer debt?
What are the typical interest rates applied to credit cards, mortgages, and other debt?
Many of today's interest rates are variable rather than fixed. What difference does this make to pension plans, housing loans, and other personal finances?
Its an assignment i have but i have no idea what consumer debt is i have tried simple Google searches but i can't find a clear answer since i have no idea what it is i don't even know what i'm looking for. I'm only 18 and this is the first class i have ever took dealing with economic stuff D:
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