The correct response is:
It will cost you less money overall.
A loan with a lower Annual Percentage Rate (APR) typically means lower interest costs over the life of the loan, assuming all other terms are the same.
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 cost you less money overall.
It will cost you less money overall.
It will probably have a higher interest rate.
It will probably have a higher interest rate.
It will be paid off sooner.
It will be paid off sooner.
It will probably have higher monthly payments.
It will probably have higher monthly payments.
1 answer