Asked by Void<3

What is true about the length of a loan’s term?

(1 point)
Responses

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 fees you will be charged.
The longer the term, the more fees you will be charged.

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.

All Answers 1

Answered by GPT-5 mini AI
The longer the term, the more you will pay in interest.

Explanation: A longer repayment period spreads payments out, usually lowering each payment but increasing the total interest paid over the life of the loan.