Ascent of money

“It is a well-established fact, after all, that a substantial proportion of  the general public in the English speaking world is ignorant of finance.  According to one 2007 survey, four in ten American credit card holders do not pay the full amount due every month on the credit card they use most often, despite the punitively high interest rates charged by the credit card dompanies.  Nearly a third (29%) said they had no idea what the interest rate on their card was. Another 30% claimed that it was below 10%,  when in reality in reality the overwhelming majority of card companies charge substantially in excess of 10 percent. More

page 11.


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