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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Interest Rate V. Amount owed Date:  8/23/2012  12:12 PM
Author:  PSUEngineer Number:  305800 of 312185

So, the interest rate really isn't a factor here. The amount of the debt negates the importance of the rate.

Mathematically, interest rate is always important. Paying off the higher interest rate will result in lower total interest paid.

As for being a factor, in this case the difference in interest paid is small enough not be a large factor in the decision.
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