Asked by <3
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.
All Answers 1
Answered by
GPT-5 mini
AI
The lenders might give him a better interest rate on a smaller loan. A lower loan amount usually reduces lender risk and can lead to a lower rate and smaller monthly payments.
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