(1 point)
Responses
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 more fees you will be charged.
The longer the term, the more fees you will be charged.
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 higher the interest rate will be.
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The correct response is:
The longer the term, the more you will pay in interest.
Longer loan terms typically result in lower monthly payments, but you will pay more in interest over the life of the loan due to the extended time for interest to accumulate.
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