Question

Credit and Borrowing Unit Test
18 of 2018 of 20 Items




Question
You are looking at two loans for the same amount over the same length of time. Which is true about the loan with the lower APR?(1 point)
Responses

It will probably have higher monthly payments.
It will probably have higher monthly payments.

It will be paid off sooner.
It will be paid off sooner.

It will probably have a higher interest rate.
It will probably have a higher interest rate.

It will cost you less money overall.
It will cost you less money overall.

Answer 1

It will cost you less money overall.