Interest rates on loans in the 1980s climbed to more than 18 percent, a nearly unimaginable number compared to today’s interest rates. True False

Answer 1

True. In the 1980s, particularly in the early part of the decade, interest rates on loans did indeed climb to very high levels, with some rates exceeding 18 percent. This was largely due to high inflation and aggressive monetary policy measures by the Federal Reserve to control it. These rates are significantly higher compared to today's interest rates.