Answered

Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Join our Q&A platform and get accurate answers to all your questions from professionals across multiple disciplines. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

When taking out a loan, the shorter your term length, the _______ your monthly payments, and the _______ the total interest you will pay.


When taking out a loan, the shorter your term length, the _______ your monthly payments, and the _______ the total interest you will pay.


lower, higher

Sagot :

abiolataiwo2015

When taking out a loan, the shorter your term length, the higher  your monthly payments, and the lower the total interest you will pay.

What is a loan?

Loan can be defined as the money a person borrow or lend from a lender in which the person is expected to payback the loan amount at a stipulated period of time.

A borrower should note that the shorter their loan term length is the higher their monthly payment will be and on the other hand the lower or lesser their total interest they are to pay will be.

Therefore when taking out a loan, the shorter your term length, the higher  your monthly payments, and the lower the total interest you will pay.

Learn more about loan here:https://brainly.com/question/25599836

#SPJ1

We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.