Asked by vccccc

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

All Answers 1

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

Explanation: Paying more than the minimum reduces the loan principal faster, which lowers the total interest paid over the life of the loan. Longer terms, higher APRs, and smaller down payments generally increase total interest and cost.