Question

Why is the interest rate of a loan one of the most important things to consider when shopping around for loans?

Answer 1

Answer:

The correct answer is c.  The interest rate can drastically change the total amount paid to the lender, in the case of mortgages, up to thousands of dollars.

Step-by-step explanation:

The formula of interest is A=P (1+r)ⁿ

A=Final amount  

P= Principal ( deposit)  

r= interest rate

n= time

As we can see,  interest rate will be added to the final amount.  If the interest rate is higher ,  higher will be the amount.  So,  it is an important issue when you are evaluating a loan.  

Answer 2

I think c because it is right i think