(1 point)
Responses
The longer the term, the fewer payments you will make.
The longer the term, the fewer payments you will make.
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 higher the interest rate will be.
1 answer
The correct statement is:
The longer the term, the more you will pay in interest.
This is true because a longer loan term generally means that interest will accrue over a longer period of time, resulting in a higher total amount of interest paid by the end of the loan.
