Discussion:
Research interest rates and consumer debt using both your personal/professional experience and independent research, respond to the following:
• How has consumer debt changed over the past few generations?
• What role do interest rates play in 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?