Go to the FRED database website from the Federal Reserve Bank of St. Louis at http://fred.stlouisfed.org and update the data for Figure 10-4 using the following steps. Type “48-month auto loan” in the search window and click Enter.

Clicking on the “Finance Rate on Consumer Installment Loans at Commercial Banks, New Autos 48 Month Loan” will bring up the relevant data on your computer.How have consumer loan rates changed since 2021 as reported in Table 10–6?

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0.0% 02/1972 03/1973- 04/1974- 5.0% 10.0% 05/1975 06/1976 07/1977 08/1978 09/1979 10/1980 11/1981 12/1982 01/1984. 02/1985 03/1986 04/1987 05/1988- 06/1989 07/1990- 15.0% 20.0% 08/1991 09/1992 10/1993 11/1994 12/1995 01/1997 02/1998- 03/1999 04/2000- 05/2001 06/2002 07/2003 08/2004 09/2005- 10/2006 11/2007 12/2008 01/2010 02/2011 03/2012 04/2013 FIGURE 10-4 Interest Rates on Consumer Loans Source: Federal Reserve Bank of St. Louis, FRED database, August 2021. http://fred.stlouisfed.org 25.0% 05/2014 06/2015 07/2016- 08/2017 09/2018. 10/2019 11/2020 |----24-month personal -48-month auto loan loan Credit card