Quote:
Originally Posted by **********
Why did you switch places?
If you borrowed $370 and paid back $425, you paid 14.86% interest on your loan. When you borrowed $230 and paid back $270, you paid 17.39% on that loan. You should have stayed with the first one, it was cheaper.
|
That's where the term robbing Peter to pay Paul originates.
Its a vicious cycle. Borrow from one person to pay the debt to another.