Question

Based on the details of each loan, which factor has the greatest impact on reducing the total repayment? ●Loan #1: $2,000, 3 years, at 10% → $64.53 monthly payment ●Loan #2: $2,000, 3 years, at 15% → $69.33 monthly payment ●Loan #3: $2,000, 5 years, at 10% → $42.49 monthly payment A) longer loan period B) lower interest rate C) shorter loan period D) higher interest rate will give brainiest

Answer 1

hello there, the answer that i got was c because if you pay a shorter loan period you pay less intrest, so therfor thats what will have the most impact on reducing the total payment. hope this helps. pls pls give brainlyist