When applying for credit, is it preferable to receive a low interest rate or a high interest rate?

Low interest rate is best, because you have to pay something at that rate. Say you borrow 100 dollars with an interest rate of 1%. You would have to pay back 101 dollars. If it had an interest rate of 5%, you would have to pay back 105 dollars. So; the lower the rate the less you would have to pay. So the lower rate is preferable.

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