[Unique Solution From 10/Pg] Susan Jones Class

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Respond to the following:

Dr. Susan Jones

Class,

When deciding to save or invest, comparing the interest rates are best. I enjoy meeting people who love to save their money; however, when one has $20k of debt at a 12% interest rate and $21k in a savings account earning .025%, I question one’s logic. Granted, having a reserve or emergency account is great, but I am with you, I would pay my debt down before saving a large sum of the money in a low-interest-bearing account.

Thoughts? Why do you agree?

 6:53 AM