When Interest rates go up who gets the extra money we have to pay?

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When Interest rates go up who gets the extra money we have to pay?

2007-03-14 06:07:43 · 2 answers · asked by sideshow 1 in Business & Finance ➔ Personal Finance

2 answers

The bank. Or whomever funded the loan. It's called profit.

2007-03-14 06:29:59 · answer #1 · answered by Anonymous · 1⤊ 0⤋

*When Interest rates go up who gets the extra money we have to pay? *

The increased interest payments go to our creditors.In other words the same folks we have been paying all along. We have to become creditors to get some of that cash.

Have a pleasant day.

2007-03-14 13:33:31 · answer #2 · answered by zurioluchi 7 · 0⤊ 0⤋