When Comparing Two Installment Loans with the Same Principal and Annual

Multiple Choice

When comparing two installment loans with the same principal and annual percentage rate (APR) , the loan with:

A) the longer maturity will have the lower monthly payment and the higher total costs.
B) the shorter maturity will have the lower monthly payment and the higher total costs.
C) the longer maturity will have the higher monthly payment and the higher total costs.
D) the shorter maturity will have the lower monthly payment and the lower total costs.
E) the longer maturity will have the higher monthly payment and the lower total costs.