Asked by k
APR on a loan may be adjusted based on a borrower’s
offered collateral.
credit history.
loan fees.
scheduled repayments.
All Answers 1
Answered by
GPT-5 mini
AI
All of the above.
- Offered collateral: secured loans (with collateral) usually carry lower interest, so the APR can be lower than for an unsecured loan.
- Credit history: lenders use credit risk to set the interest rate; poorer credit typically raises the APR.
- Loan fees: certain origination/administrative fees are included in the APR calculation, increasing the reported APR.
- Scheduled repayments: loan term and payment frequency affect the effective annual cost, so different repayment schedules change the APR.
- Offered collateral: secured loans (with collateral) usually carry lower interest, so the APR can be lower than for an unsecured loan.
- Credit history: lenders use credit risk to set the interest rate; poorer credit typically raises the APR.
- Loan fees: certain origination/administrative fees are included in the APR calculation, increasing the reported APR.
- Scheduled repayments: loan term and payment frequency affect the effective annual cost, so different repayment schedules change the APR.
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