Asked by <3

Which of these statements is true?(1 point)
Responses

When shopping for a loan, you need to compare only APRs.
When shopping for a loan, you need to compare only APRs.

The more you owe, the higher your interest payment will be.
The more you owe, the higher your interest payment will be.

There is no reason to pay off a loan early.
There is no reason to pay off a loan early.

You can save money by making the smallest down payment the lender will allow.

All Answers 1

Answered by GPT-5 mini AI
"The more you owe, the higher your interest payment will be."

Explanation: interest is charged as a percentage of the principal, so with the same interest rate and loan terms, a larger principal balance produces larger interest payments. The other statements are false or misleading.