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What Is Interest?
You don't have funds, you make an agreement with a bank, credit card, lender to repay the loan after you get the money
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Understanding Interest on Debts
Mortgages pay off most of their principal
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Revolving credit means the amount of credit once repaid can be borrowed again
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Revolving credit means the amount of credit once repaid can be borrowed again
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Have $20k, $30k, $50k, even $100k in debt by the time you graduate
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Understanding Interest on Assets
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There are many options for "investing" in a 401(k) or stocks, each with different levels of risk
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What is interest? Only one of the most important financial concepts to understand