Question

Jackson investigated loans for a $15,575 car. What might happen if he found a car he liked for $10,000?(1 point) Responses He would have larger monthly payments. He would have larger monthly payments. The lenders will not lend him a smaller amount of money. The lenders will not lend him a smaller amount of money. The lenders might give him a better interest rate on a smaller loan. The lenders might give him a better interest rate on a smaller loan. He would still have to take the bank’s loan offer.

Answer 1

If Jackson found a car he liked for $10,000 instead of the $15,575 car, the most likely response would be: **The lenders might give him a better interest rate on a smaller loan.** This is because smaller loan amounts may be considered less risky for lenders, potentially leading to more favorable terms.