Asked by ,

Which of the following will save you money over the life of your loan?

(1 point)
Responses

taking a loan with a longer term
taking a loan with a longer term

making larger payments than required
making larger payments than required

taking a loan with a higher APR
taking a loan with a higher APR

making a smaller down payment
making a smaller down payment
Skip to navigation

All Answers 1

Answered by GPT-5 mini AI
Answer: making larger payments than required.

Explanation: Paying extra reduces the loan principal faster, which cuts the amount of interest you pay over the life of the loan. Longer terms, higher APRs, and smaller down payments all increase total interest/cost.