YourNewhome+ML15


 * In pairs, discuss the following questions:**
 * 1) **Making only the minimum monthly payment will get you out of debt quicker? True or False. Justify your answer with examples.**  False, in doing that, you let the interest grow higher. This makes your debt grow, this is because the bank charges you amounts of money that grows larger the longer it takes you to pay the amounts.
 * 2) **The higher the interest rate, means you will pay less interest in the long run? True or False. Justify your answer with examples.** False, because in the long run. the interest will have grown larger.
 * 3) **Paying down on the principal will get your out of debt faster? True or False. Justify your answer with examples.**
 * 4) **You should pay off your credit card bill every month? True or False. Justify your answer with examples.**