Question

When interested rates are high cost less money to borrow money true or false

Answer 1

Answer: False

Explanation: The lower the interest rate the less it costs to borrow. The higher the interest rate, the more it cost to borrow.

Answer 2

That statements is false

Step-by-step explanation:

When you borrow money, interest represent the additional amount that you need to give back to the creditor. For example let's say that you borrow $1,000 with 10% interest rate per year. After one year, you need to pay back the loan with additional $100 ($1,000 x 10%) for the creditor.

This means that when the interest rate is high, it will cost you more to borrow money.