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Which of the following factors is true when considering a 48-month...

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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.

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Answered by JudgeStarlingPerson123 on coursehero.com

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