Question
Answered step-by-stepAsked by rich.roro on coursehero.com
Which of the following factors is true when considering a 48-month...
Which of the following factors is true when considering a 48-month loan at 6% APR and a 36-month loan at 5% APR?
You will pay less in total for the longer-term loan.
You will pay less interest for the shorter-term loan.
The shorter-term loan has a lower monthly payment.
The longer-term loan has a higher monthly payment.
Answer & Explanation
Solved by verified expertAnswered by JudgeStarlingPerson123 on coursehero.com
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