how did rising interest rates affect americans?\nit became cheaper to buy cars and homes.\namericans had to…
how did rising interest rates affect americans?\nit became cheaper to buy cars and homes.\namericans had to pay higher interest on loans.\nloan payments dropped greatly over time.
Answer
Answer:
B. Americans had to pay higher interest on loans.
Brief Explanations:
When interest rates rise, the cost of borrowing money increases. So, Americans with loans have to pay more in interest. Buying cars and homes becomes more expensive, not cheaper, and loan - payments increase rather than drop.