Go to the Federal Reserve Web site, www.federalreserve.gov. Click on the Consumer Information tab, and research consumer credit in the various hyperlinks. Find average interest rates charged by commercial banks on new automobile loans, personal loans, and credit card plans.

a. Compare the average level of interest rates among the three types of loans.

b. Click on the Economic Research & Data tab, click on the “Statistics: Releases and Historical Data” hyperlink and then “Consumer Credit,” and compare trends in the cost of consumer credit provided by commercial banks over the past three years.