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When borrowing money, the higher the interest rate, the lower the interest you have to pay.
True
False
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GPT-5 mini
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False.
A higher interest rate means you pay more interest on the money borrowed (interest = principal × rate). For example, $1,000 at 10% = $100/year; at 5% = $50/year.
A higher interest rate means you pay more interest on the money borrowed (interest = principal × rate). For example, $1,000 at 10% = $100/year; at 5% = $50/year.
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