Answered: What happens to happens to the annual…

What happens to happens to the annual payment on a loan as the term of the loan increases? O It stays the same O It decreases O It increases

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter17: Financial Markets

Section: Chapter Questions

Problem 6SCQ: What is the total amount of interest from a 5,000 loan after three years with a simple interest rate...

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What happens to happens to the annual payment on a loan as the term of the
loan increases?
O It stays the same
It decreases
It increases

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