Question
Help Your friend wishes to purchase a new car. Assuming your friend has a good credit rating, he will likely get the best interest rate on a loan if the inflation rate is low high rising fluctuating
Answer
Low
- Q: What is your friend's credit rating? A: Assuming your friend has a good credit rating.
- Q: What is the impact of inflation rate on interest rates? A: High inflation rate can lead to high interest rate while low inflation rate can lead to low interest rate.
- Q: What is the best inflation rate for a good interest rate on a car loan? A: Your friend will likely get the best interest rate on a loan if the inflation rate is low.