I know audacity is free and it will do the job, but until i buy software i will probably use that. Is there and effects that come with it and if there are what are they? and Can i record multiple tracks onto one song?

Any suggestions on cheap recording software preferably around 75 bucks with a little leeway.
audacity is pretty good, tho i've only used it for editting already recorded stuff, but it will work for recording, i've just never tried it. but i have used garageband and it's pretty good, but its mac only. but it comes free with a mac!
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