Massachusetts Institute of Technology: Trouble With Round Numbers
February 21, 2020
February 21, 2020
CAMBRIDGE, Massachusetts, Feb. 21 -- The Massachusetts Institute of Technology issued the following news on Feb. 20:
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- Study shows people prefer monthly payments in multiples of $100, even when it may cost them money.
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Do you have a monthly car payment, or a similar loan? Is each payment a nice round number, like $300? If so, you are hardly alone. But the appeal of that easy-to-remember payment figure may be costing you money.
. . .
* * *
- Study shows people prefer monthly payments in multiples of $100, even when it may cost them money.
* * *
Do you have a monthly car payment, or a similar loan? Is each payment a nice round number, like $300? If so, you are hardly alone. But the appeal of that easy-to-remember payment figure may be costing you money.
. . .