Multiple Choice
Sam is comparing the costs of two loans. One is due in one year and the other is due in four years. Both have the same stated rate of interest. Which of the following is true?
A) The principal paid for the one-year loan will be lower than the principal paid for the four-year loan.
B) The principal paid for the one-year loan will be higher than the principal paid for the four-year loan.
C) The interest charges for the one-year loan will be lower than the interest charges for the four-year loan.
D) The interest charges for the one-year loan will be higher than the interest charges for the four-year loan.
E) The interest charges and principal payments cannot be compared for the two loans.
Correct Answer:
Verified
Correct Answer:
Verified
Q127: If you have reached the upper limit
Q128: A credit report includes<br>A) Detailed credit information<br>B)
Q129: Before taking out a loan, you should
Q130: Personal bankruptcy can be filed under which
Q131: Which of the following acts sets procedures
Q133: If you are denied credit, you can
Q134: In the five Cs of credit, character
Q135: Which of the following is an example
Q136: Which of the following is the only
Q137: According to law, a creditor may threaten