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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308465  
Subject: Re: Interest Rate V. Amount owed Date: 8/23/2012 12:12 PM
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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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