(1 point)
Responses
The longer the term, the more fees you will be charged.
The longer the term, the more fees you will be charged.
The longer the term, the higher the interest rate will be.
The longer the term, the higher the interest rate will be.
The longer the term, the more you will pay in interest.
The longer the term, the more you will pay in interest.
The longer the term, the fewer payments you will make.
1 answer
The statement that is true about the length of a loan’s term is:
The longer the term, the more you will pay in interest.
This is because longer loan terms typically lead to more total interest paid over the life of the loan, even if the monthly payments are lower.
