To: delta7
“As of December 2024, the average APR was 24.43%”
Imagine the compounding of debt at that rate! Ouch.
To: plain talk
Using the rule of 70, that debt will double in less than 3 years.
That's just crazy.
To: plain talk
“Rule of 72” so it doubles approximately every three years.
8 posted on
01/03/2025 5:07:23 PM PST by
grey_whiskers
(The opinions are solely those of the author and are subject to change without notice.)
To: plain talk
There are car accounts out there pushing 40%... I can’t even imagine. 29.9% is actually fairly common. And as you quoted - the “average” is 24.43...
41 posted on
01/03/2025 8:16:38 PM PST by
TheBattman
(Democrats-Progressives-Marxists-Socialists-Satanists: redundant labels.)
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